17 Oct 2024

Bajaj Auto Shares Drop Amid 31% Decline in Q2 Consolidated Net Profit

Bajaj Auto is currently trading at Rs. 10,448.95, a sharp decline of 1,168.60 points or 10.06% from its previous close of Rs. 11,617.55 on the BSE.

The stock opened at Rs. 11,000.05 and fluctuated between a high of Rs. 11,279.35 and a low of Rs. 10,397.40. So far, 52,690 shares have been exchanged.

This BSE group 'A' stock with a face value of Rs. 10 previously hit a 52-week high of Rs. 12,772.15 on September 27, 2024, and a 52-week low of Rs. 5,125.25 on October 18, 2023. Over the last week, the stock saw a high of Rs. 11,991.30 and a low of Rs. 10,380.00. Bajaj Auto's market capitalization currently stands at Rs. 2,95,000.76 crore.

The company's promoter holdings are at 55.06%, while institutional investors hold 23.01%, and non-institutional investors account for 21.93%.

In Q2FY25, Bajaj Auto posted a 9.2% increase in standalone net profit at Rs. 2,005.04 crore, up from Rs. 1,836.14 crore in the same quarter of the previous year. Its total income also surged by 21.31% to Rs. 13,512.01 crore from Rs. 11,138.62 crore in Q2FY24.

On a consolidated level, however, the company reported a 31.42% drop in net profit, which stood at Rs. 1,385.44 crore for Q2FY25, down from Rs. 2,020.05 crore in the same period last year. Despite this, total income rose by 21.77% to Rs. 13,646.61 crore compared to Rs. 11,206.84 crore in the corresponding quarter last year.