Bajaj Auto Q2 PAT jumps 9% YoY to Rs 2,005 crore

Two-wheeler major Bajaj Auto on Wednesday reported a standalone net profit of Rs 2,005 crore for the quarter ended September 2024. The profit jumped by 9% over Rs 1,836 crore reported in the year-ago period.

The company reported revenue from operations at Rs 13,127 crore, which was 22% higher than Rs 10,777 crore reported in the corresponding quarter of the previous financial year.

Both PAT and revenue figures were below ET Now poll estimates of Rs 2,198 crore and Rs 13,305 crore, respectively.

Domestic volumes stood at 7,76,711 units — a 22% YoY jump. In the corresponding quarter of the previous financial year, the same stood at 6,37,556 units.

Meanwhile, exports jumped 7% to 4,44,793 units in Q2FY25 versus 4,16,397 units in Q2FY24.

The company's board of directors also approved an additional investment of up to $10 million (equivalent to Rs 84 crore) in the equity share capital of Bajaj Brazil, a wholly-owned subsidiary of the company in a phased manner.

The two-wheeler major attributed its strong July-September quarter revenue to the 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.

At Rs 2,653 crore, earnings before interest, taxes, depreciation and amortisation (EBITDA) was Bajaj Auto's best ever, growing by a solid 24% YoY and with margin higher than 20%.

Adjusting for the exceptional deferred tax provision, PAT delivered a new record at Rs 2,216 crores, up 21% YoY.