Riding on its green energy portfolio, Bajaj Auto on Wednesday reported a net income of Rs 2,005 crore for the July-September quarter (Q2 FY25), up 9 percent from a year-ago period.
Profit after tax also rose to Rs 2,216 crore, an increase of 21 percent year-on-year when adjusted for the exceptional deferred tax provision.
"Reported PAT was at Rs 2,005 crore, after making an additional provision of Rs 211 crore to account for the cumulative one-time impact on Deferred Tax on Investment Income, due to the withdrawal of indexation and change in tax rate in the Finance Act, 2024," the company said in its regulatory filing.
Revenue from operations during the quarter stood at Rs 13,000 crore, compared with Rs 10,684 crore YoY.
Shares of Bajaj Auto ended 0.88 per cent higher at Rs 11,622.5 apiece on Wednesday.
The company said that its green energy portfolio had scaled up to reach new milestones, in the sales of 1 lakh electric vehicles (EVs) during September, while making 70,000 Chetak electric scooters sold in the month, besides having a market share at 21 per cent in September.
"The portfolio comprises both electric and CNG vehicles across both 2W and 3W portfolios, and now accounts for a substantial 40 per cent of total revenues from the domestic market," Bajaj Auto said in its filing.
It said saw double-digit growth for both motorcycles as well as commercial vehicles, and powered by near trebling of electric scooters.
The company said that "Pulsar continues to gain traction across markets as it delivered its highest quarterly sales of 1.1 lakh units."
The firm further said that it is on the path to replicate the leadership of the ICE 3W segment to e3Ws as the segment exit market share reached 35% having doubled from the end of last year.
The firm also ends the quarter with surplus cash of Rs 16,392 crore after having invested Rs 1,200 crore towards strategic growth enablers, mainly capital infusion into Bajaj Auto Credit Ltd and EV capex apart from distribution of Rs 2,233 crore as dividend in H1 FY25.
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