Bajaj Holdings Q3 consolidated net drops to Rs 59 cr

Bajaj Holdings and Investment today announced a consolidated net profit of Rs 59.14 crore for the third quarter ended December 31, 2008, as compared to Rs 159.90 crore during the same quarter last fiscal.

Its consolidated total income fell to Rs 14.26 crore from Rs 127.30 crore in the same period previous fiscal.

For the nine-month period ending December 31, 2008, the company's consolidated net profit declined to Rs 216.80 crore from Rs 442.41 crore during the same period in the previous fiscal.

The company's consolidated total income for the nine-month period under review declined to Rs 107.37 crore from Rs 300.16 crore during the same period a year ago.

Its standalone net profit too fell to Rs 8.02 crore in the Q3 ended December 31, 2008, from Rs 110.63 crore in the same quarter a year ago.

Standalone total income from operations decreased to Rs 13.37 crore in the quarter under review from Rs 125.75 crore in the December quarter of the previous fiscal.

For the nine-month period ending December 31, 2008, the company's standalone net profit decreased to Rs 174.47 crore from Rs 258.45 crore during the same period last fiscal.

Its standalone income from operations declined to Rs 193.20 in the April December period from Rs 293.19 crore during the same period a year ago.

The company is a holding and investment firm with nearly 30.69 per cent stake in Bajaj Auto and 34.77 per cent stake in Bajaj Finserv as on December 31, 2008. It focuses on earning income through dividends, interest and gains on investments held, it said.