Thursday’s spotlight is on shares of two-wheeler giant Bajaj Auto after the company’s Q2FY25 earnings came in slightly under Street projections. The business said on Wednesday that its standalone net profit for the quarter that ended in September 2024 was Rs 2,005 crore. Over the Rs 1,836 crore recorded in the same period last year, the profit increased by 9%.
Revenue from operations for the company was recorded at Rs 13,127 crore, which was 22% more than the Rs 10,777 crore reported in the same quarter of the previous fiscal year.
The PAT and revenue statistics fell short of the Rs 2,198 crore and Rs 13,305 crore, respectively, a poll predicts.
The number of domestic units sold was 7,76,711, a 22% YoY increase. The same was 6,37,556 units in the same quarter of the prior fiscal year.
In the meantime, exports increased by 7% from 4,16,397 units in Q2FY24 to 4,44,793 units in Q2FY25.
Additionally, the board of directors of the firm approved a phased increase in equity share capital of up to $10 million (or Rs 84 crore) for Bajaj Brazil, a wholly-owned subsidiary.
The two-wheeler giant credited a double-digit volume increase for its good revenue during the July–September quarter. The recovery of exports, which was further supported by a more diverse sales mix, and another solid domestic performance were the main drivers of this rise.
With a healthy 24% YoY growth and a margin exceeding 20%, Bajaj Auto’s profits before interest, taxes, depreciation, and amortisation (EBITDA) reached an all-time high of Rs 2,653 crore.
After accounting for the extraordinary deferred tax provision, PAT achieved a record-breaking Rs 2,216 crores, a 21% YoY increase.
