Bajaj Holdings and Investment Ltd, the holding company of Bajaj Group, on Friday (October 27) reported a 20% year-on-year (YoY) rise in consolidated net profit at ₹1,491.2 crore for the second quarter that ended September 30, 2023.

In the corresponding quarter last year, Bajaj Holdings and Investment posted a net profit of ₹1,243 crore, the company said in a regulatory filing.

Bajaj Holdings Q2 | #2QWithCNBCTV18

Net profit up 20% at Rs 1,491.2 cr vs Rs 1,243 cr (YoY)Revenue up 19.8% at Rs 224.7 cr vs 187.6 cr (YoY) pic.twitter.com/zdHEXVfVCs— CNBC-TV18 (@CNBCTV18Live) October 27, 2023

For the half-year ending September 30, 2023, the consolidated net profit of the company grew to ₹2,907 crore, up by 31%, from ₹2,212 crore registered during the same period of last year.

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The company's consolidated revenue increased 19.8% to ₹224.7 crore as against ₹187.6 crore in the corresponding period of the preceding fiscal.

Dividends received from corporates in Q2 of FY24 boosted the standalone total income and profit after tax (PAT) of the company for Q2 and H1 FY24, Bajaj Holdings said.

As against a book value of ₹1,508 per share, the Net Asset Value (NAV) of the investments was ₹14,710 per share as of September 30, 2023, the company added.

Bajaj Holdings has strategic stakes of 36.64% in the group's flagship firm Bajaj Auto Ltd, 41.57% in Bajaj Finserve Ltd, and 51% in Maharashtra Scooters Ltd.

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The results came after the close of the market hours. Shares of Bajaj Holdings and Investment Ltd ended at ₹6,740.65, up by ₹ 72.75, or 1.09%, on the BSE.

First Published:Oct 27, 2023 5:04 PM IST