Bajaj Auto’s standalone Q2 net profit down 1%

Mumbai: Two- and three-wheeler manufacturer Bajaj Auto on Tuesday reported a marginal decline of 1 per cent in its standalone net profit for the second quarter (Q2) of 2017-18.

According to the company, its standalone net profit during the quarter under review declined to Rs 1,112 crore from Rs 1,123 crore reported for the corresponding period of 2016-17.

However, Bajaj Auto’s turnover inched up by 1 per cent to Rs 6,863 crore from Rs 6,774 crore earned during Q2 of FY17.

The company’s total quarterly sales including exports grew by 4 per cent to 1,071,510 units from 1,031,945 units sold during the corresponding period of 2016-17. “With all high margin products and business verticals doing well (international business, commercial vehicle and pulsar) and higher capacity utilisation driven by CT and Platina, the company has maintained its industry high operating EBITDA () margin of 20.8 per cent,” Bajaj Auto said in a statement.

“Standalone profit before tax was Rs 1,517 crore… Profit after tax was Rs 1,112 crore as against Rs 924 crore in Q1/FY18 and Rs 1,123 crore in Q2/FY17.” On consolidated basis, the company’s net profit during Q2 declined to Rs 1,194 crore from Rs 1,201 crore reported for Q2 FY17.