Mumbai: Bajaj Auto on Friday said its net profit surged by 20 per cent year-on-year to Rs 1,530 crore for the second quarter of the current financial year.
The company’s total revenue from operations increased by 16.4 per cent to Rs 10,202.8 crore for July-September 2022 quarter. At Rs 10,203 crore, quarterly revenue from operations surpasses the Rs 10,000 crore milestones for the first time, according to a regulatory filing to the stock exchanges by Bajaj Auto.
Growth of 16 per cent year-on-year and 27 per cent quarter-on-quarter was aided by the recovery of volumes on the improvement of semi-conductor supplies, the company said.
The company posted the highest-ever quarterly EBITDA registered at Rs 1,759 crore, strong growth of 26 per cent year-on-year and 36 per cent quarter-on-quarter.
Continued improvement in semi-conductor supplies enabled a healthy build-back of channel inventory, ahead of the festive season.
Rebound in domestic motorcycle market share, led by the robust momentum on the sports portfolio, Chief Financial Officer of Bajaj Auto Dinesh Thapar said in the regulatory filing.
Pulsar brand continues to deliver a solid performance; the newly launched N160 was extended across the country with impactful activation to bring its proposition alive, Thapar said.
