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Bajaj Auto Q2 profit falls 19% to Rs 1,138 crore, but sees strong turnaround in domestic 2Ws

At the operating level, the performance was tad ahead of analysts' estimates.

October 23, 2020 / 02:10 PM IST

Bajaj Auto, the two-and-three-wheeler maker, has reported an 18.8 percent year-on-year decline in September quarter standalone profit to Rs 1,138.2 crore, missing a CNBC-TV18 poll estimates which of Rs 1,212 crore.

"The profitability was lower on account of lower interest rates/yields during Q2 FY21 which resulted in reduction of treasury income and revision in corporate tax rates last year resulted in a one-time gain of around Rs 182 crore in Q2 FY20," company said.

Revenue from operations declined 7.2 percent year-on-year to Rs 7,156 crore in Q2 FY21, with sales volume declining 10.2 percent YoY to 10.53 lakh units and realisation rising 3.4 percent YoY.

Domestic two-wheeler segment registered a strong turnaround in September quarter as volumes grew by 6 percent, but commercial vehicles volumes declined 78 percent, while total exports fell 12 percent during the quarter YoY.