Bajaj Auto gains 2% in a weak mkt after net profit climbs 20% YoY in Q2FY23

The management expects Q3 to be better than Q2 with supply chain visibility being much better

Shares of Bajaj Auto traded 2 per cent higher at Rs 3,659 per share in Monday’s intra-day trade after the company reported steady performance in the September quarter (Q2FY23). In comparison, the Nifty 50 index was down 0.43 per cent at 17,111 points at 9:34 AM.

In Q2FY23, the total operating income rose 27.5 per cent quarter-on-quarter (QoQ) and 20 per cent year-on-year (YoY) to Rs 10,203 crore, on favourable currency movement and increase in domestic two- and three-wheeler sales.

The company’s net profit, meanwhile, increased 20 per cent YoY to Rs 1,530 crore against Rs 1,275 crore. in