Bajaj Auto Q2 net profit jumps 20% on-year, revenue rises 16%

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Bajaj Auto July-September 2023 earnings

Bajaj Auto reported its September quarter results on Friday evening after the market closed. The share price closed 1.13% lower ahead of its earnings. In 2022, Bajaj Auto has given returns of over 8% compared to flat NIFTY50 returns. It reported a good rise in its topline and bottomline for Q2FY23. Let us look at the numbers in detail.

Bajaj Auto July-September 2022: Highlights

Bajaj Auto Q2FY23 earnings- profit rise: Bajaj Auto has reported a 20% on-year jump in net profit to Rs 1,530 crore in the July-Sep 22 period, beating analyst expectations. Analysts' have earlier estimated a net profit of Rs 1500 crore. Price hikes, better product mix, cost efficiency, and better foreign exchange realization aided the strong operating performance.

Bajaj Auto July-September 23 revenue: Beats estimates: Bajaj Auto’s revenue from operations jumped 16.4% YoY to Rs 10,202.8 crore from Rs 8,765 crore in the same quarter a year ago. Analysts had earlier estimated revenue of about Rs 10,069 crore. 

Check Infosys Q2FY23 results here

Bajaj Auto Q2 volumes increase: Bajaj Auto sold 11.51 lakh units in the September quarter, compared with 11.44 lakh units a year ago and 9.33 lakh units in Q1FY23. The company saw domestic volumes nearly doubling from Q1FY23 across both three-wheeler and two-wheeler segments, which cushioned the drop in exports.

Margins rise: Bajaj Auto’s EBITDA (earnings before interest, taxes, depreciation, and amortization) jumped 25.5% on-year to Rs 1,759 crore. The EBITDA margin expanded year-on-year to 17.2%. This was the highest-ever quarterly EBITDA reported by the two-wheeler major.
Management commentary: "In a market that is still significantly lower than pre-Covid, although recovering, Bajaj three-wheelers delivered an industry leading performance, while retaining its strong position across segments; CNG does particularly well and is growing penetration," Baja Auto said in a statement.