Bajaj Auto Q2 PAT Dips 31% to Rs 1,385 Cr - Business News

New Delhi, Oct 16 (PTI) Bajaj Auto on Wednesday said its consolidated profit after tax declined 31 per cent year on year to 1,385 crore for the second quarter ended September 30, 2024.

The company had reported a consolidated profit after tax (PAT) of Rs 2,020 crore in the July-September period of last fiscal.

Total revenue from operations however rose to Rs 13,247 crore in the second quarter compared with Rs 10,838 crore in the year-ago period, Bajaj Auto said in a regulatory filing.

On a standalone basis, the company reported a PAT of Rs 2,005 crore, up 9 per cent as against 1,836 crore in the second quarter of last fiscal.

Revenue from operation rose to Rs 13,127 crore as compared with Rs 10,777 crore in the year-ago period.

The company said it sold 12,21,504 units in the second quarter, up 16 per cent as compared with 10,53,953 units in the year-ago period.

The company said its board has approved additional investment in the equity share capital of Bajaj Brazil, a wholly-owned subsidiary of the company.

The board approved an investment of up to USD 10 million in a phased manner.

Bajaj Auto shares ended 0.85 per cent up at Rs 11,617.55 apiece on the BSE.