Bajaj Auto Reports 21.8% YoY Revenue Growth, Shares Rise Ahead of Results

Pune-based two-wheeler manufacturer Bajaj Auto Ltd. reported its September quarter results on Wednesday, October 15. Net profit grew on a year-on-year basis despite a one-time impact, while margins too saw an expansion from the year-ago quarter. The company reported revenue from operations of ₹13,127 crore, a 22% increase from ₹10,777 crore in the same quarter last year. Domestic volumes rose 22% year-on-year to 7,76,711 units, compared to 6,37,556 units in the corresponding quarter of the previous year.

Bajaj Auto Q2 Results Highlights

•     Revenue: 21.8% year-on-year to ₹13,127.5 crore.
•     Net Profit: ₹2,005 crore for the July-September period, a growth of 9.2% compared to last year.
•     EBITDA: Increased to ₹2,652.4 crore, a growth of 24.4% from the year-ago quarter.
•     Stock Reaction: Shares of Bajaj Auto ended 0.9% higher at ₹11,622 ahead of the results announcement.

Also check Bajaj Shares - Group Stocks

Bajaj Auto Management Commentary

The company's board of directors also approved an additional investment of up to $10 million (equivalent to ₹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.

Stock Market Reaction

Shares of Bajaj Auto had ended 0.9% higher on Wednesday at ₹11,622 ahead of the results announcement. The stock is the third-best performer on the Nifty 50 index so far in 2024 after Trent and Mahindra & Mahindra, with gains of 73% so far.

About Bajaj Auto

Bajaj Auto Ltd is a company that specializes in automotive manufacturing, focusing on the design, production, and distribution of two-wheeler and three-wheeler vehicles. In addition to its core products, it also offers spare parts and accessories.

Bajaj Auto's product range serves a diverse customer base, spanning from entry-level models to high-performance sports vehicles. The company exports its products to numerous regions, including Africa, the Asia Pacific, South Asia, Latin America, the Middle East, and Europe.