Two-wheeler-maker Bajaj Auto Ltd on Wednesday reported a 9.20 per cent rise, year-on-year (YoY), in its second-quarter standalone net profit for the ongoing financial year 2024-25 (Q2 FY25). During the quarter under review, profit came at Rs 2,005.04 crore as against Rs 1,836.14 crore in the year-ago period.
The 'Pulsar' bike-maker's profit growth was adjusted by a deferred tax liability of Rs 211.26 crore. The tax liability was to account for a change in the way debt mutual funds will be taxed.
To recall, the government had removed long-term tax benefits for debt mutual fund investments made after April 2023 in its budget last year. This year, the Centre retroactively removed the benefits for investments before April 2023 as well.
Bajaj Auto's revenue from operations jumped 21.81 per cent to Rs 13,127.47 crore in Q2 FY25 from Rs 10,777.27 crore in the corresponding period last year.
"At Rs 2,653 crore, EBITDA (earnings before interest, taxes, depreciation, and amortisation) registered its best ever, growing a solid 24 per cent YoY and with margin at over 20 per cent again," the company stated.
Bajaj Auto's domestic two-wheeler sales - which is around 64 per cent of its total for two-wheelers - jumped 26 per cent to 6,36,801 units. The Pune-headquartered firm's two-wheeler exports rose 5 per cent to 3,96,407 units in Q2 FY25.
Separately, the company's Board has approved an additional investment of up to $10 million (around Rs 84 crore) in its wholly-owned subsidiary Bajaj Brazil.
The quarterly results were released post-market hours today. Earlier in the day, Bajaj Auto shares settled 0.85 per cent higher at Rs 11,617.55.