On a standalone basis, the net profit was Rs 1,138.2 crore, down 18.8 per cent from Rs 1,402.4 crore clocked in Q2FY20.
The company’s Ebitda (earnings before interest, tax, depreciation and amortisation) came in at Rs 1,266.2 crore in the quarter under review, while margin improved 110 basis points (bps) at 17.7 per cent. Bajaj Auto
said the optimisation of fixed cost helped the margin expansion.
Further, the company said the impact of reversal of MEIS in Q2 was Rs 78 crore, excluding which margin would be 19 per cent.
As on September 30, 2020, the company's surplus cash and cash equivalents stood at Rs 16,240 crore as against Rs 14,232 crore as on June 30, 2020 and Rs 14,322 crore as on March 31, 2020.
Bajaj Auto's realisation for the quarter under review came in at Rs 67,935/unit as against Rs 65,673/unit (YoY).
For the quarter under review, the company sold 10.53 lakh units. This includes 5.73 lakh units sold in the domestic markets
and 4.79 lakh as exports. In the year-ago quarter, it had sold 11.73 lakh units in total.
"Domestic two-wheelers registered a strong turnaround in the first half of the quarter driven by pent up demand. While the exact festive spike is awaited, early signs show (strong) indications of a recovery. Industry grew by 7 per cent in Q2 and our growth was in line with Industry and hence our market share was 18.2 per cent in H1FY21 vs 18.1 per cent in H1FY20," the company said.
At 1:35 PM, the stock was trading 0.18 per cent lower at Rs 3,010.85 on the BSE as compared to 0.42 per cent decline in the S&P BSE Sensex. The stock hit a low of Rs 2,983 intra-day soon after the result announcement.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.