Bajaj Holdings Q1 Results: Net profit rises 46% to ₹1,4,15.5 crore, revenue up 14% YoY
- Bajaj Holdings Q1 Results: The company's revenue from operations in the first quarter of current fiscal at ₹104.04 crore, registering a growth of 14 per cent, compared to ₹91.33 crore in the year-ago period.
Bajaj Holdings Q1 Results: Bajaj Holdings and Investment announced its April-June quarter results for fiscal 2023-23 (Q1FY24) on July 27, reporting a rise of 46 per cent in consolidated net profit at ₹1,415.50 crore, compared to ₹969.33 crore in the corresponding period last year.
The company's revenue from operations in the first quarter of current fiscal at ₹104.04 crore, registering a growth of 14 per cent, compared to ₹91.33 crore in the year-ago period.
The consolidated profit of Bajaj Auto was up 41 per cent year-on-year to ₹1,644 crore from ₹1,163 crore in Q1FY23. The company's standalone EBITDA margin during the quarter was 19 per cent.
Bajaj Finserv reported a 48.4 per cent year-on-year rise in consolidated net profit for the quarter ended June 2023 at ₹1,942.63 crore. The company’s net profit in the same quarter last year was ₹1,309 crore. The company’s revenue from operations in Q1FY24 increased 46.5 per cent to ₹23,280 crore, compared to ₹15,888.3 crore in the year-ago period.
“Macro-economic conditions were stable during the quarter with a higher level of business confidence. In this conducive environment, our companies have once again delivered strong operating performance" Bajaj Finserv said.
Its subsidiary, Bajaj Finance reported highest ever quarterly increase in its customer franchise of 3.84 million and highest ever new loans booked of 9.94 million in Q1FY24.
Bajaj Finserv’s general insurance subsidiary Bajaj Allianz General Insurance Company reported a gross written premium of ₹3,834 crore in Q1FY24, reporting a growth of 23 per cent year-on-year. However, the profit of Maharashtra Scooters was down to ₹48 lakh from ₹1.43 crore in Q1FY23.
On July 27, shares of Bajaj Holdings settled 1.89 per cent higher at ₹7,556.25 after hitting an intraday high of ₹7,599 apiece on the BSE.
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Business NewsCompaniesCompany ResultsBajaj Holdings Q1 Results: Net profit rises 46% to ₹1,4,15.5 crore, revenue up 14% YoY
First Published:27 Jul 2023, 04:28 PM IST
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