Bajaj Auto’s Q2 standalone net profit up 7%

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Two- and three-wheeler major on Friday reported a rise of 6.68 per cent in its standalone net profit for the second quarter (Q2) of 2016-17.

The automobile major’s net profit increased to Rs 1,122.75 crore for the quarter ended September 30, 2016, from Rs 1,052.37 crore in the corresponding period of 2015-16.

According to the company, total income from operations which includes gross sales and other operating income rose by 0.38 per cent during the quarter under review.

The company’s total income from operations during the second quarter grew to Rs 6,432.32 crore from Rs 6,407.54 crore in the corresponding quarter of 2015-16.

“Despite a slowdown in exports, company improved its operating EBITDA (earnings before interest, tax, depreciation and amortisation) margin from 21.2% in Q1/FY17 to 22.3% in Q2/FY17,” the company said in a statement.

“This was achieved due to a richer product mix, especially for domestic market.”

However, Bajaj Auto’s overall quarterly sales including exports declined by two per cent to 1,031,945 units down from 1,056,596 units sold during the corresponding quarter of 2015-16.

On the other hand, total domestic sales zoomed by 22 per cent to 653,928 units from 536,447 units sold during the corresponding quarter of 2015-16.

Exports plunged by 27 per cent to 378,017 units from 520,149 units shipped out during the corresponding quarter of last fiscal.

Further, the company reported a growth of 4.54 per cent in its Q2 consolidated net profit which stood at Rs 2,101.12 crore from Rs 2,009.73 crore.