October 18, 2023
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Bajaj Auto Q2 net profit rises 20%
Bajaj Auto Limited has reported a standalone net profit of Rs 1,836.14 crore for Q2 2023-24, which is a year-on-year increase of 20 percent from Rs 1,530 crore. The figure was higher than analysts’ estimates.
In July-September, revenue from operations went up 5.6 percent to Rs 10,777.27 crore vis-à-vis Rs 10,203 crore in the corresponding period last year. The growth was aided by falling commodity costs and the price hikes the company effected.
Last quarter, Bajaj Auto’s earnings before interest, taxes, depreciation and amortisation or EBITDA came in at Rs 2,133 crore. Owing to richer product mix and better realisation, the EBITDA or operating margin in the current quarter, expanded 260 basis points to 19.8 percent from 17.2 percent a year ago. The company revealed that its quarterly EBITDA crossed Rs 2,000 crore for the first time, growth of 21 percent YOY.
The company’s performance improved in July-September despite sales, in volume terms, falling 8.4 percent from last year to 10,53,953 units, with the aforementioned price hikes aiding the bottomline.
Its two-wheeler sales fell 13.5 percent to 8,81,583 units, while commercial vehicle (CV) sales jumped 30.6 percent YoY to 1,72,370
Shares of Bajaj Auto were down by 0.8 percent at Rs 5,137.35 on the BSE at the end of the day’s trading.
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