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Informist, Wednesday, Jul 24, 2024

MUMBAI – Bajaj Holdings and Investment Ltd's consolidated net profit for the June quarter rose 13.8% on year to 16.10 bln rupees on the back of steady earnings by associated companies. On a sequential basis, the consolidated net profit was down 40.7% due to a high base effect.

In Jan-Mar, Bajaj Holdings and Investment had reported exceptional gains of 11.11 bln rupees due to a share buyback by Bajaj Auto Ltd.

Bajaj Holdings and Investment is the holding company of Bajaj Auto, Bajaj Finserv Ltd, and Maharashtra Scooters Ltd. The company held 36.68% stake in Bajaj Auto, 41.53% in Bajaj Finserv, and 51% in Maharashtra Scooters as on Jun 30.

The holding firm's share of profits of associates in Apr-Jun rose 13.3% on year to 15.40 bln rupees, but fell 0.9% sequentially.

Bajaj Auto's consolidated profit after tax increased by 18% on year to 19.42 bln rupees, while Bajaj Finserv’s consolidated profit after tax increased by 10% to 21.38 bln rupees in Apr-Jun.

Maharashtra Scooters Ltd reported profit after tax of 82.6 mln rupees, as against 4.8 mln rupees in the corresponding quarter a year ago.

Today, shares of Bajaj Holdings and Investment closed 2.4% lower at 9,501.50 rupees on the National Stock Exchange. The earnings were released after market hours.  End

Reported by Richard Fargose

Edited by Deepshikha Bhardwaj

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