Bajaj Auto's Q2 net profit up 58 percent

Two- and three-wheeler major Bajaj Auto on Wednesday reported an exponential rise of 58 percent in its net profit for the second quarter of the current fiscal.

The company's net profit for the second quarter of the current fiscal stood at Rs.933.06 crore from Rs.590.90 crore registered during the corresponding period of last fiscal.

According to a regulatory filing with the Bombay Stock Exchange (BSE), the company's total income grew by 2.25 percent in the quarter under review.

The company's Q2 total income stood at Rs.6,097.78 crore from Rs.5,963.09 crore in the corresponding quarter of 2014-15.

Total sales for the quarter under review inched up marginally by 0.09 percent to 1,056,596 units from an off-take of 1,055,582 units during the second quarter of last year.

The company's EBIDTA (earnings before interest, taxes, depreciation and amortisation) margin for the quarter improved to 22.1 percent from 20.8 percent in the like period of 2014-15.

For the first half (H1) of the current fiscal, the company reported a rise of 46.35 percent in its net profit which stood at Rs.1,947.86 crore from Rs.1,330.88 crore registered during the corresponding period of last fiscal.

Total sales for the first half gained by 1.25 percent at 2,069,625 units from 2,044,012 units sold during the like period of 2014-15.

The company's H1 total income was higher by 4.42 percent and 11,711.27 units from 11,215.50 units sold during the like period of 2014-15.

The EBIDTA margin improved to 21.6 percent from 20.3 percent in H1 2014-15.

The company's scrip at the BSE gained 3.46 percent to Rs.2,522.60 around 2.15 p.m. from Rs.2,438.30 per equity.