Bajaj Holdings Q2 net up 17.78% at `459.98 cr
Bajaj Holdings' Q2 consolidated net profit rises on the shares of the profit on investment in group firms
New Delhi: Bajaj Holdings & Investments Ltd on Wednesday reported 17.78% increase in consolidated net profit at ₹ 459.98 crore for the second quarter ended 30 September riding on the shares of the profit on investment in Bajaj group firms.
The investment firm had posted a consolidated net profit of ₹ 390.51 crore in the same period a year earlier, Bajaj Holdings said in a filing to the BSE.
Bajaj Holdings said its consolidated profit on investment in associate companies during the quarter under review stood at ₹ 392.69 crore as against ₹ 320.49 crore in the same quarter last fiscal, up 22.52%.
However, firm’s net sales and income from operation decreased 2.83% to ₹ 88.40 crore this quarter as against ₹ 90.98 crore of the same period last fiscal.
Bajaj Holdings has strategic stakes of 31.49% in group’s flagship firm Bajaj Auto Ltd, 39.16% on Bajaj Finserve Ltd and 24% in Maharashtra Scooters Ltd.
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