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Business News/ Companies / Company Results/  Bajaj Holdings Q3 results: Net profit rises 28% to 1,644 crore

Bajaj Holdings Q3 results: Net profit rises 28% to ₹1,644 crore

The company posted a 28% year-on-year (YoY) rise in consolidated net profit from ₹1,285.65 crore in Q3 FY23 to ₹1,644 crore in Q3 FY24.

Bajaj Holdings and Investments Q3 resultsPremium
Bajaj Holdings and Investments Q3 results

Bajaj Holdings and Investments (BHIL), on Tuesday, announced its third quarterly financial results ending on December 31, 2023. The company posted a 28% year-on-year (YoY) rise in consolidated net profit from 1,285.65 crore in Q3 FY23 to 1,644 crore in Q3 FY24.

Sequentially, net profit for the December quarter rose over 9% from 1,491.16 crore. Meanwhile, revenue from operations grew 9% to 108.05 crore. 

Also read: L&T Q3 results: Net profit jumps 15% YoY to 2,947 crore; revenue rises 19%

The company's standalone net profit increased over 34% from 49.24 crore in Q3 FY23 to 65.56 crore in Q3 FY24. Standalone revenue from operations also stood at 101.24 crore.

Bajaj Holdings further reported a total income amounting to 132.50 crore in the December quarter for FY24, a 14% rise YoY from 116.03 crore last year same period.

Also read: PB Fintech registers profitable quarter: PAT surges to 37 crore in Q3FY24, revenue grows 43% YoY

Bajaj Auto consolidated net profit increased by 38% to 2,033 crore in 03FY24 as compared to 1.473 crore in 03 FY23. Bajaj Auto's standalone results registered an excellent EBITDA margin of 20.1%.

BFS consolidated profit after tax increased by 21% to 2,158 crore in Q3 FY24 versus 1,782 crore in Q3 FY23, aided by strong performance of BFL. Adjusted for mark to market movement on equity investments across two periods, profit increased by 18%.

Also read: Dr Reddy's Laboratories Q3 Results: Net profit rises 10.6% to 1,379 crore; 5 key highlights

Maharashtra Scooters Ltd. profit after tax stood at 1 crore in Q3 FY24 v/s 3 crore in Q3 FY23.

BHIL holds strategic stakes in Bajaj Auto Ltd., Bajaj Finserv Ltd. and Maharashtra Scooters Ltd., which it consolidates and other group companies. It has financial investments of over 12,500 crore at market value.

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Published: 30 Jan 2024, 06:24 PM IST
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