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Bajaj Auto on Thursday posted a consolidated net profit of ₹1,193.97 crore for the second quarter ended September 30, a 201 per cent increase compared to the previous quarter of the year. It had posted a consolidated net profit of ₹395.51 crore in the first quarter of this financial year.
The total revenue from operations during the September quarter stood at ₹7,155.86 crore, a 132 per cent increase compared to the first quarter of the financial year, when it posted a total revenue from operations of ₹3,079.24 crore.
However, on a year-on-year basis, the consolidated net profit during the September quarter declined by 21.62 per cent compared to the consolidated net profit of ₹1,523.31 crore in the year-ago period. Total revenue from operations during the September quarter also dipped by 7.15 per cent compared to the year-ago quarter, when it had posted a total revenue from operations of ₹7,707.32 crore.
As on September 30, 2020, surplus cash and cash equivalents stood at ₹16,240 crore, as against ₹14,232 crore as on June 30, 2020, and ₹14,322 crore as on March 31, 2020.
The total sales of Bajaj Auto dipped 10 per cent year-on-year during the September quarter. It sold a total of 1,053,337 units in Q2 FY21, compared to the 1,173,591 units it sold in Q2 FY20.
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Two-wheeler sales
Domestic two-wheelers registered a strong turnaround in the first half of the quarter driven by pent-up demand, said Bajaj Auto in a statement. While the exact festive spike is awaited, early signs show strong indications of a recovery, it added. Domestic two-wheeler sales of the company increased by 6 per cent year-on-year during the September quarter.
KTM and Husqvarna had their highest-ever sales in a quarter of 20,200 vehicles, it said.
Domestic CV volumes continue to remain muted and is dependant on the return of adequate short distance mobility demand, it noted. Within CV, cargo has fared better than passenger, it said. Domestic CV sales fell 78 per cent y-o-y during the September quarter.
Total exports of the company fell 12 per cent y-o-y in the September quarter. “Strong revival of demand was witnessed in Latin America and Africa while ASEAN continues to be weak and Sri Lanka has stopped all vehicle imports,” it said.
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