Bajaj Auto records 12% increase in net profit

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Updated: October 28, 2021 8:14 AM

Bajaj Auto’s Ebitda margin during the September quarter declined to 16.4%, compared to 18.2% in the second quarter of FY21.

Bajaj Auto, year-on-year (YoY) rise in net profit, revenue from operation, Total volumes during the September quarter, Bajaaj auto ebitda marginsBjj Auto posted a consolidate profit after tax of Rs 2,040 crore.

Bajaj Auto on Wednesday reported a 12% year-on-year (YoY) rise in net profit to Rs 1,275 crore for the September quarter. Revenue from operations during the September quarter was up 22% YoY to Rs 8,672 crore. Total volumes during the September quarter grew by 9% YoY to 11.44 lakh units.

Bajaj Auto’s Ebitda margin during the September quarter declined to 16.4%, compared to 18.2% in the second quarter of FY21. Bajaj Auto’s Ebitda increased by 10% YoY to Rs 1,434 crore during the September quarter. The company said post the second wave of the Covid pandemic, the domestic motorcycle market had witnessed a reasonable recovery. The company reported a 7% YoY decline in domestic two and three wheeler sales to 5.32 lakh units during the quarter, but this was off-set by a 28% YoY growth in motorcycle and three wheeler sales in the export market to 6.12 lakh units.

The second quarter of this fiscal had seen an increase in cost of raw-materials, which was partially off-set with increase in prices, the company said.

The company posted a consolidate profit after tax of `2,040 crore. This included an exceptional gain of `501 crore after a share swap of its holding in KTM AG. Bajaj Auto International Holdings BV (BAIH BV), a Netherlands-based 100% subsidiary of Bajaj Auto, held 47.99% stake in KTM AG. BAIH BV swapped 46.5% stake in KTM AG for 49.9% stake in Pierer Bajaj AG on September 29, 2021.

During the quarter, the company reported other revenue of Rs 133.48 crore received as incentives for exports. This included Rs 43.62 crore for the January 2021 to March 2021 period and Rs 38.30 crore for the April-June 2021 exports under the RoDTEP scheme. Another `60 crore was from the MEIS export incentive for April-December 2020.

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