New Delhi: Leveraging its green energy portfolio, Bajaj Auto on Wednesday reported a net income of Rs 2,005 crore in the July-September quarter (Q2FY25), an increase of 9 per cent over the year-ago period.
Adjusting for exceptional provision of deferred taxes, profit after tax (PAT) reached Rs 2,216 crore, an increase of 21 per cent (y-o-y).
“The PAT reported was Rs 2,005 crore, after making an additional provision of Rs 211 crore to account for the cumulative one-time impact on Deferred Tax on Investment Income, due to withdrawal of indexation and change in tax rate in the Finance Law. 2024,” the company said in its regulatory filing.
The automaker reported operating revenue of Rs 13,000 crore, up 22 percent year-on-year. Shares of Bajaj Auto closed 0.88 per cent higher at Rs 11,622.5 apiece on Wednesday.
The company said its green energy portfolio expanded to reach new milestones of 1 lakh electric vehicles (EV) sold in the month of September, which included 70,000 Chetak electric scooters (with a market share of 21 per cent in September). .
“The portfolio comprises electric and CNG vehicles in the 2W and 3W portfolio, which now contributes a significant 40 per cent to the total national revenue,” Bajaj Auto said in the filing.
The company said it saw double-digit growth in both motorcycles and commercial vehicles, driven by the near tripling of electric scooters. “Pulsar continues to gain ground across markets as it achieved its highest ever quarterly sales of 1.1 lakh units,” the company said.
The company further stated that it is on track to replicate the leadership of the ICE 3W segment to e3W (electric), as the segment’s output market share reached 35 percent, doubling since the end of last year.
At the end of the quarter, Bajaj Auto has surplus cash of Rs 16,392 crore, having invested Rs 1,200 crore in strategic growth enablers (mainly capital infusion in Bajaj Auto Credit Ltd. and capex in electric vehicles) and distribute Rs 2,233 crore as dividend in the first half. FY25.
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