Bajaj Holdings and Investment Q3 net profit at Rs 647 cr

Bajaj Holdings and Investment today reported a rise of 24 per cent in consolidated net profit at Rs 647 crore for third quarter ended December 2016.
The company had reported a net profit of Rs 521 crore in the year-ago period.
Its total income also increased to Rs 276.80 crore from Rs 75.76 crore in the same the quarter a year ago, the company said in a regulatory filing.
On standalone basis, the company's net profit rose to Rs 123.97 crore as against Rs 45.27 crore in the three-month period a year ago.
The firm's total income standalone increased to Rs 275.22 crore during the quarter from Rs 74.29 crore a year earlier, it said.

Bajaj Holdings and Investment Ltd earns income through dividends, interest and gains on investments held.

The company holds 31.49 per cent and 39.29 per cent, respectively, in associate firms Bajaj Auto Ltd and Bajaj Finserv Ltd.
Further, it holds 100 per cent stake in subsidiary Bajaj Auto Holdings and 24 per cent in joint venture Maharashtra Scooters Ltd.
"The government's action to demonetise high value current had an adverse impact on the auto industry. Despite the adverse conditions, Bajaj Auto was able to record a strong operating earnings before interest, tax, depreciation and amortisation (EBITDA) margin of 22 per cent," it said.

Bajaj Finserv's consolidated earnings include results of its lending arm Bajaj Finance Ltd and two insurance subsidiaries - Bajaj Allianz Life Insurance Co Ltd and Bajaj Allianz General Insurance Co Ltd.
Stock of the company closed 3.28 per cent higher at Rs 1,999.30 apiece on BSE.