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

Bajaj Auto Ltd. reports 9% profit growth, record sales in electric vehicles, and strong financial performance in Q2.

Bajaj Auto Ltd. reported second quarter standalone net profit grew 9% from the year-earlier period to ₹2,005 crore. Revenue from operations at ₹13,247 crore for the quarter ended September 30, 2024 grew 22% YoY due to record highs in vehicle and spare parts sales, the company said.

During the quarter the company made an additional ₹211 crore provision for the one-time deferred tax impact on investment income due to changes in the Finance Act, 2024.

The company said its green energy portfolio reached new milestones, with 100,000 units sold in September and 100,000 electric vehicles sold during the quarter.

“Electric and CNG vehicles now contribute 40% of total domestic revenues, highlighting the strategic shift towards sustainable mobility,” the company said in a filing.

Its domestic business achieved its highest revenue and tenth consecutive quarter of double-digit growth. Growth was driven by double-digit gains in both motorcycles and commercial vehicles, with a near tripling of electric scooters, it said.

Export revenue rose in double digits, helped by better USD/INR realisation, a richer mix, and a record quarter in Latin America. The Pulsar brand continued to gain traction with over 1,10,000 units sold, while Africa saw positive trends despite being lower than last year, it said.

Motorcycles maintained double-digit growth, supported by the premiumisation of the Pulsar brand in the sports segment. Commercial Vehicles set a new record with 140,000 units sold.