Bajaj Auto Raises Second-Quarter Profit 35.2% to 3,354 Crore Rupees
Key Facts
Bajaj Auto reported a 35.2% rise in net profit to 3,354 crore rupees for the quarter ended September 30, 2026, from 2,480 crore rupees in the year-earlier period. The announcement followed a board meeting on October 27, the date the company had set to consider unaudited results for the second quarter and first half ended September 30. Quarterly revenue rose 34.1% to 20,003 crore rupees from 14,922 crore rupees a year earlier. Revenue topped the estimate of 18,933 crore rupees, while net profit also exceeded the estimate of 3,156 crore rupees. The company said in its disclosure that the results would be submitted to the exchanges after the board meeting, while NDTV Profit published details of performance and expectations.
Earnings before interest, taxes, depreciation and amortization (EBITDA) totaled 4,171 crore rupees, up 36.6% from 3,052 crore rupees in the corresponding quarter of the previous fiscal year and above the estimate of 3,912 crore rupees. The EBITDA margin rose to 20.9% from 20.5% a year earlier, a modest year-over-year improvement alongside growth in revenue and operating profit. This means that higher sales were accompanied by greater operating profitability, with the margin widening from the prior period. Operating profit also exceeded estimates, bolstering the quarter's results alongside revenue and net profit beating market expectations. NDTV Profit reported the actual figures and estimates in its results coverage.
Other income was 419 crore rupees, compared with 369 crore rupees in the second quarter of the previous fiscal year, according to figures reported by NDTV Profit. Meanwhile, tax expenses rose to 1,104 crore rupees from about 815 crore rupees in the year-earlier period. These items form part of the net result, alongside operating performance reflected in growth in EBITDA and an improved margin. Net profit increased year over year despite higher tax expenses, while the result exceeded analysts' estimate. The figures published here do not include further detail on income or tax items.
The results coincided with a mixed sales performance in September: total units sold rose 5% to 538,443 vehicles, while total domestic sales fell 9% to 294,456 vehicles. Exports surged 32% to 243,987 vehicles in the same month, according to the company's sales statement. Over the six months from April to September, total sales increased 24% to 2,987,135 vehicles. Exports led first-half growth, rising 47% to 1,510,701 vehicles, while domestic sales increased 7% to 1,476,434 vehicles. The figures show divergent sales trends in overseas and domestic markets during the period covered by the half-year results.
For motorcycles in September, domestic sales fell 12% to 239,771 units, while exports rose 34% to 211,723 units from a year earlier. The gap is consistent with the broader trend for the month, as total domestic sales declined and exports increased. In the first half, overall exports grew 47%, compared with 7% growth in domestic sales, making overseas markets the largest contributor to the increase in total units sold during that period. Unit sales provide context for quarterly revenue, which rose 34.1% year over year. The company announced its second-quarter results on the same day it had previously set for its investor call.
Bajaj Auto had invited investors to a call to discuss second-quarter results on October 27, 2026, at 7:15 p.m. India time, with Joint Managing Director Rakesh Sharma and Chief Financial Officer Dinesh Thapar participating. The disclosure showed that the call was dedicated to discussing second-quarter fiscal 2026-2027 results, following the board meeting scheduled for the same date. Alongside the results announcement, the board approved changing Kailash Zanzari's role from president of products to president of operations and appointed Madhusudan Gopalan as president of products. The board's decisions thus included changes to two executive positions as well as approval of the quarterly results. The available information did not specify a later date for another results-related event.