 "Bajaj Auto Ltd Q2FY24 result: Net profit rises to Rs 2020 cr; revenue up 6%")
The consolidated net profit of Bajaj Auto Limited for the second quarter of the current financial year (Q2FY24) saw a rise of 17.48 per cent to Rs 2,020.05 crore, compared to Rs 1,719.44 crore for the corresponding quarter of the previous year, the company said in a BSE filing.
Sequentially, the net profit was up 22.86 per cent. In Q1FY24, the net profit of the company was Rs 1644.14 crore.
The revenue from operations for Q2FY24 came in at Rs 10,838.24 crore, compared to Rs 10,202.71 crore year-on-year (YoY), which is a rise of 6.22 per cent. On a quarter-on-quarter (q-o-q) basis, the revenue for operations was up 5.1 per cent. It was Rs 10,311.91 crore in Q1FY24.
The total income for Q2FY24 came in at Rs 11,206.84 crore, compared to Rs 10,536.56 crore YoY, rising 6.36 per cent. On a QoQ basis, the total income was up 5.1 per cent. It was Rs 10,663.01 crore in Q1FY24.
In a press release, the company stated that it has surplus funds of Rs 17,326 crore as on September 30, 2023. Amid volatile market conditions, the company's exports gradually recover as it volumes up 8 per cent sequentially.
Bajaj Auto Limited stock closed at Rs 5,143.7 on Wednesday.