Profit, however, fell 20 per cent sequentially, as the recovery over the three-month period was undone by partial lockdowns due to second Covid wave, the two-wheeler maker said in a BSE filing.
Revenue from operations soared 139.88 per cent to Rs 7,386 crore from Rs 3,079 crore in the year-ago quarter. Revenues fell 14 per cent sequentially.
Ebitda margin for the quarter came in at 15.6 per cent, which was 250 basis points lower than March quarter’s 18.1 per cent, but was higher than the year-ago’s 14.3 per cent.
Ebitda margin was largely impacted sequentially on three counts. Lower revenue from operations resulted in loss on spread of fixed costs by 160 basis points, Bajaj Auto said. Besides, increase in cost of raw material, net of increase in prices resulted in 220 basis points fall in Ebitda margin.
“This was partially offset from higher dollar realisation and improved mix,” Bajaj Auto said.
The company sold over 6,48,000 units (including both two-wheelers and commercial vehicles) in various international markets, despite challenges in availability of containers. This was against 2,51,840 units it sold in the year-ago quarter.
In the domestic market, Bajaj Auto sold nearly 3,42,000 units of motorcycles and commanded a market share of 19.7 per cent in June quarter compared with 17 .3 per cent in March quarter. While the company managed to sell over 14,000 units of commercial vehicles in the domestic market, volumes were still at a fraction of pre-pandemic level.
The company board, meanwhile, has approved the incorporation of a wholly-owned subsidiary of the company. “The wholly-owned subsidiary will leverage the growth opportunities in the evolving mobility space and will help the company venture into the manufacturing of Electric and Hybrid vehicles in the two-wheeler, two-wheeler and light four-wheeler categories,” it said.