Bajaj Auto Q2 PAT rises 9% YoY to Rs 2,005 cr

The auto major's standalone net profit increased 9.19% to Rs 2,005.04 crore on 21.80% jump in revenue from operations to Rs 13,127.47 crore in Q2 FY25 over Q2 FY24.

The revenue growth was underpinned by double digit volume growth on the back of yet another robust domestic performance and a steady recovery of exports, further buoyed by a richer sales mix

Profit before tax was at Rs 2,925.20 crore in Q2 FY25, registering a growth of 21.88% from Rs 2,400.04 crore posted in Q2 FY24.

EBITDA rose 24% year-on-year to Rs 2,653 crore for the quarter ending 30 September 2024. The EBITDA margin improved to 20.2% in Q2 FY25 as against 19.8% reported in the same period last year.

This improvement was largely due to dynamic management of the business enabled margins to be held constant while offsetting the drag from the significant step up of e2Ws and commodity inflation. More than 40 bps YoY accretion was driven primarily by favourable currency and operating leverage.

Domestic volumes jumped 22% to 7,76,711 units as compared with 6,37,556 units sold in corresponding quarter last year.

Export revenue grew by double digits, driven by improved USD/INR realization, a richer product mix and another record quarter in the LATAM region. The Pulsar model continues to gain traction across markets, achieving its highest quarterly sales with over 110,000 units sold. While sales in Africa, particularly in Nigeria, were lower than the previous year, the region is experiencing a positive directional uptick, supported by targeted interventions.

Chetak electric scooters volumes stood at 70,000, up more than 3 times YoY with September market share at 21% (11% in June).

Meanwhile, the companys board has approved the additional investment in the equity share capital of Bajaj Brazil, a wholly owned subsidiary of the company of up to $10 million equivalent to Rs 84 crore at an assumed exchange rate of $1 = Rs 84 in a phased manner.

The primary aim of this capital infusion is to support business expansion and address the growing operational demands.

Bajaj Auto is engaged in the business of development, manufacturing and distribution of automobiles such as motorcycles, commercial vehicles, electric two-wheelers etc. and parts thereof.

The scrip rose 0.85% to settle at Rs 11,617.55 on the BSE.

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