Bajaj Auto has released its Q2 results.
Bajaj Auto Q2 Results: Its revenue during July-September 2024 jumps 22 per cent to Rs 13,127 crore, compared with Rs 10,777 crore in the year-ago period.
Automobile major Bajaj Auto on Wednesday reported a 9 per cent rise in its standalone net profit to Rs 2,005 crore for the second quarter ended September 30. It is below analysts’ expectations. Its revenue during July-September 2024 jumped 22 per cent to Rs 13,127 crore, compared with Rs 10,777 crore in the year-ago period.
However, on a consolidated basis, Bajaj Auto’s profit after tax declined 31 per cent year on year to 1,385 crore for the second quarter ended September 30, 2024.
Bajaj Auto’s standalone revenue from operations jumped 22 per cent YoY to over Rs 13,000 crore. The portfolio comprising of electric and CNG vehicles across both the 2W and 3W portfolio, now contributes a significant 40 per cent of total domestic revenues.
“Balance Sheet remains healthy with surplus cash of Rs 16,392 crores, after having invested Rs 1.200 crores behind strategic growth enablers (primarily capital infusion into Bajaj Auto Credit Ltd. and EV capex) and distributing Rs 2.233 crores as dividend in H1 FY25,” Bajaj Auto said in a regulatory filing.
Shares of Bajaj Auto on Wednesday rose 0.88 per cent to close at Rs 11,622.5 apiece on the BSE.
Bajaj Auto said it sold 12,21,504 units in the second quarter, up 16 per cent as compared with 10,53,953 units in the year-ago period. The company said its board has approved additional investment in the equity share capital of Bajaj Brazil, a wholly-owned subsidiary of the company.
The board approved an investment of up to USD 10 million in a phased manner.
