bajaj auto: Bajaj Auto crosses Rs 10,000-crore income mark in Q2 as native gross sales double

A restoration in home gross sales helped submit its highest-ever quarterly working revenue through the July-September interval when it additionally topped the ₹10,000 crore income mark for the primary time.

The producer of the Pulsar and Platina bikes bought virtually 1.2 million automobiles through the quarter, 23% greater than the previous quarter and 1% greater than a yr earlier. Home gross sales virtually doubled quarter-on-quarter to greater than 694,000 models. Exports declined 21% sequentially to 581,000 models as the worldwide economic system faces headwinds.

The efficiency highlights the advantages of the Pune-based automaker’s diversification throughout the globe, limiting the affect on its gross sales from troubles in a single market.

Income grew 16% from a yr earlier to ₹10,203 crore. Working revenue, or earnings earlier than curiosity, tax, depreciation, and amortisation (Ebitda), rose 26% to ₹1,759 crore. The corporate reported a standalone revenue of ₹1,530 crore, 20% greater than the identical interval final yr.

A robust efficiency within the ASEAN international locations, particularly the Philippines, helped partially offset setbacks in different markets, Bajaj Auto mentioned. Beneficial overseas trade charges because the rupee depreciated in opposition to the greenback additionally helped.

The restoration within the home market was pushed by higher shopper demand in addition to a build-up of stock with showrooms in anticipation of upper gross sales through the Diwali festive season.

“Continued enchancment in semiconductor provides enabled a wholesome build-back of channel stock forward of the festive season,” the corporate mentioned in a press assertion.

With this, the corporate added ₹2,450 crore of working money flows within the first half of the yr. Surplus funds with the corporate totalled ₹15,538 crore as of September 30.

The inventory of Bajaj Auto closed 1% decrease at ₹3,569 on the BSE Friday, when the benchmark Sensex ended 1.2% greater. The outcomes have been introduced after the market shut.