Bajaj Auto Q2 results: Net profit rises 24% to ₹2,480 crore; EBITDA surpasses ₹3,000 crore mark first time

The Pune-based company's revenue from operations also surged 14% in the reporting quarter to ₹14,922 crore as compared to ₹13,127 crore on a year-on-year (YoY) basis.

Bajaj Auto said that strong performance across its business segments more than offset the impact of rare earth magnet supply constraints, which had affected the electric vehicle segment — previously the fastest-growing part of its portfolio. The company noted that this demonstrates the resilience and adaptability of its business model.

The country's second-largest two-wheeler maker's earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 15% to ₹3,052 crore in Q2 FY26 as against ₹2,652 crore in the corresponding quarter for the previous fiscal year.

The company said its EBITDA surpassed the ₹3,000 crore mark for the first time.

Its margin remained almost flat at 20.4%, in contrast to 20.2% YoY.

The company’s margins expanded by 70 bps sequentially, as favourable currency realisations and operating leverage more than offset net cost inflation, increased brand-building spending in a competitive market, and continued R&D investments aimed at future-proofing the portfolio.

Bajaj Auto’s domestic business delivered record revenue, driven by strong growth in premium motorcycles and double-digit expansion in the commercial vehicles (CVs) segment. The company said the GST rate revision and positive festive sentiment boosted the usual seasonal upswing.

Although electric vehicle sales were constrained by supply challenges during the quarter, the segment continued to scale up, contributing over ₹10,000 crore in revenue over the past two years.

Bajaj Auto’s exports delivered a strong performance, with revenue rising 35% YoY, driven by accelerated momentum across regions and both two- and three-wheeler segments.

The company’s domestic motorcycle segment posted sequential, volume-led double-digit revenue growth, driven by robust demand in the sports category, particularly at the premium end. Meanwhile, the commercial vehicles segment reached a new high in both volumes and revenue, supported by strong performance across internal combustion engine (ICE) and electric models.

Further, Bajaj Auto said although supply disruptions impacted the quarter, Chetak regained market leadership in October, reaffirming its position as the preferred electric scooter brand.

The two- and three-wheeler maker said its continued focus on cash generation resulted in ₹4,500 crore of free cash flow in H1 FY26, representing nearly 100% conversion of PAT.

On Friday, Bajaj Auto shares settled at ₹8,717 apiece on NSE, falling 0.04%.