Bajaj Auto Q2 results: Profit jumps 20% YoY to Rs 1,530 crore; margin expands 120 bps

Bajaj Auto on Friday reported a 20 per cent year-on-year (YoY) rise in standalone profit after tax (PAT) at Rs 1,530 crore compared with Rs 1,275 crore in the same quarter last year. Revenue from operations rose 16 per cent YoY to Rs 10,203 crore compared with Rs 8,762 crore in the corresponding quarter last year.

Ebitda jumped 26 per cent YoY to Rs 1,759 crore from Rs 1,401 crore in the year-ago quarter. Ebitda margin expanded 120 basis points to 17.2 per cent from 16 per cent in the year-ago quarter.

The two-wheeler maker said continued improvement in semi-conductor supplies enabled a healthy build-back of channel inventory, ahead of the festive season.

The rebound in domestic motorcycle market share was led by the robust momentum on the sports portfolio, it said, adding that Pulsar brand continues to deliver a solid performance.

"In a market that is still significantly lower than pre-Covid, although recovering, Bajaj three wheelers delivered an industry leading performance, while retaining its strong position across segments; CNG does particularly well and is growing penetration," Bajaj Auto said.

Macro-economic challenges in select overseas markets subdue exports billing volumes, it said.

"However, the strong show in ASEAN (with Philippines registering its highest sales) and improved foreign exchange realisations partly alleviate the drag on turnover. Chetak maintains its steady expansion as it grows sales volumes, has a robust order book, and is made available through an expanded network of dealers across 39 cities," Bajaj Auto said.