On a consolidated basis, the net profit of the two-wheeler maker dropped 15.71 per cent to Rs 1,719.44 crore in the second quarter of FY23 compared with Rs 2,039.86 crore recorded in the second of FY22.

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Revenue from operations jumped 16.44 per cent to Rs 10,202.71 in the second quarter of FY23 from Rs 8,762.18 crore posted in the second quarter of FY22.

Profit Before Tax (PBT) stood at Rs 2,203.22 crore in the second quarter of FY23, declining 8.9 per cent yearly. Total expenses grew by 14.83 per cent to Rs 8,531.47 crore, while the cost of raw materials consumed rose 17.12 per cent to Rs 6,940.62 crore in the second quarter of FY23 over the second quarter of FY22.

EBITDA grew 26 per cent on a yearly basis to Rs 1,759 crore in the second quarter of FY23. EBITDA margin improved to 17.2 per cent during the second quarter of FY23 compared with 16 per cent reported in the second quarter of FY22. The total sale of the company rose 1 per cent to 11,51,012 units in the second quarter of FY23 over the second quarter of  FY22. Bajaj Auto said that the continued improvement in semiconductor supplies enabled a healthy build-back of channel inventory ahead of the festive season.

The company has to engage in manufacturing, developing and distributing automobiles named as commercial vehicles, motorcycles, electric wheelers etc. Bajaj Auto shares declined 1.01 per cent to settle at Rs 3,569 on the Bombay Stock Exchange (BSE).