Bajaj Auto Reports 31% Decline in Q2 Profit Despite Revenue Growth

Bajaj Auto's consolidated profit after tax dropped 31% to Rs 1,385 crore in Q2 FY24, despite a rise in revenue to Rs 13,247 crore. Standalone PAT increased by 9% with 12,21,504 units sold, marking a 16% growth. An investment in Bajaj Brazil was approved by the board.

Bajaj Auto reported a significant decline in its consolidated profit after tax, which fell by 31% year on year to Rs 1,385 crore for the second quarter ending September 30, 2024. The automotive giant had recorded a consolidated profit of Rs 2,020 crore during the same period last year.

Despite the drop in profit, the company's revenue showed promising growth, increasing to Rs 13,247 crore in the second quarter from Rs 10,838 crore in the previous year's corresponding quarter, according to a regulatory filing.

On a standalone basis, Bajaj Auto saw an improvement with a 9% rise in profit after tax, clocking Rs 2,005 crore, and a sales boost of 16% with 12,21,504 units sold. Additionally, the company announced plans for a USD 10 million investment in Bajaj Brazil.

(With inputs from agencies.)