Bajaj Auto Q2 PAT rises 9% to ₹2,005 crore

Electrical and CNG automobiles now contribute 40% of the overall home income, highlighting the strategic shift in direction of sustainable mobility, Bajaj Auto stated.
| Picture Credit score: ANUSHREE FADNAVIS

Bajaj Auto Ltd. reported second quarter standalone web revenue grew 9% from the year-earlier interval to ₹2,005 crore. Income from operations at ₹13,247 crore for the quarter ended September 30, 2024 grew 22% YoY on account of report highs in automobile and spare elements gross sales, the corporate stated.

In the course of the quarter the corporate made an extra ₹211 crore provision for the one-time deferred tax affect on funding revenue on account of modifications within the Finance Act, 2024.

The corporate stated its inexperienced power portfolio reached new milestones, with 100,000 models bought in September and 100,000 electrical automobiles bought in the course of the quarter.

“Electrical and CNG automobiles now contribute 40% of whole home revenues, highlighting the strategic shift in direction of sustainable mobility,” the corporate stated in a submitting.

Its home enterprise achieved its highest income and tenth consecutive quarter of double-digit progress. Development was pushed by double-digit positive aspects in each bikes and industrial automobiles, with a close to tripling of electrical scooters, it stated.

Export income rose in double digits, helped by higher USD/INR realisation, a richer combine, and a report quarter in Latin America. The Pulsar model continued to achieve traction with over 1,10,000 models bought, whereas Africa noticed constructive traits regardless of being decrease than final 12 months, it stated.

Bikes maintained double-digit progress, supported by the premiumisation of the Pulsar model within the sports activities phase. Business Automobiles set a brand new report with 140,000 models bought. 

Chetak electrical scooters accelerated with volumes at 70,000, greater than tripling YoY, reaching a 21% market share in September. “The success was as a result of launch of an reasonably priced variant and leveraging a wider distribution community with practically 3,000 touchpoints,” the corporate stated.

The corporate stated string money technology continued, including ₹2,000 crore in free money movement in the course of the quarter. Stability sheet remained strong with surplus money of ₹16,392 crore, after investments of ₹1,200 crore in strategic progress initiatives and distributing ₹2,233 crore as dividends in H1FY25.

The corporate’s board has accepted further funding within the fairness share capital of Bajaj Brazil, an entirely owned subsidiary of the corporate, of as much as $10 million (equal to ₹84 crore at an assumed alternate charge of $= ₹84) in a phased method.