Home-grown automaker Bajaj Auto reported 17.5% year-on-year growth in its consolidated net profit at Rs 2020.05 crore for the fiscal second quarter ended September 30. The company had posted a consolidated profit of Rs 1719.44 crore in the year-ago period.
The company’s consolidated total revenue from operations rose nearly 6.8% year over year to Rs 10,584.67 crore during the quarter ended September 2023 from Rs 9,911.06 crore in Q2FY23.
At Rs 2,133 crore, the company’s quarterly EBITDA surpasses the Rs 2,000 crore milestone for the first time, – growth of 21 % YoY.
According to the company, the margin at 19.8%, up 260 bps YoY, was driven by a better realisation and a richer product mix, which more than covered the drag arising from investments in growing electric scooters.
The company’s EBITDA in Q1FY24 was Rs 1,954 crore, up 51% year over year, while margins of 19% were up 280 basis points. Sequentially, margins dropped by 30 basis points from 19.3% in Q4FY23.
It further added that the consistent focus on premiumization in the motorcycle segment enabled the company to gain market share. The company has also sustained strong cash generation of Rs 3,600 crore in the first half of FY24, up 1.6X than the same period in FY23.