Bajaj Auto will declare its Q2 results on October 16, Wednesday. The auto major’s shares had fallen 3% on Tuesday.
What Happened: Brokerages expect the company to report a strong quarter. The average estimates of five brokerages predicted a 20.56% year-on-year growth in standalone net profit to ₹2,213.60 crore. The Chetak maker’s revenue is expected to come at ₹13,289.56 crore, a 23% growth from the previous year. EBITDA margin might reach ₹2699.5 crore.
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| Brokerages | Revenue | EBITDA | Net Profit |
|---|---|---|---|
| Nuvama | 13,487.8 | 2,726.9 | 2,260 |
| Axis Securities | 13,336 | 2,709 | 2,246 |
| Motilal Oswal | 13,088.6 | 2,597.1 | 2,156.8 |
| Kotak | 13,545.2 | 2,833.9 | 2,246.3 |
| Elara Securities | 12,990.2 | 2,630.6 | 2,158.9 |
| Average | 13,289.56 | 2,699.5 | 2,213.6 |
Analysts expect the company to report strong revenue growth on the back of strong sales. According to Motilal Oswal, domestic volumes grew 21% from the previous year and exports increased by 7%. Axis Securities said the revenue growth will be supported by volume growth, a mild increase in average selling price due to premium two-wheeler expansion, export growth and price growth taken in the past year.
In September, Bajaj Auto reported a 20% increase in total sales to 4.7 lakh units.
In the September quarter of FY24, the company reported a net profit of ₹1,836 crore and revenue of ₹10,777 crore.
Price Action: Shares of Bajaj Auto fell 3.04% to ₹11,537.90 on Tuesday.
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