Bajaj Holdings Q1 net profit rises 17% to Rs 613 cr

Bajaj Holdings & Investment (BHIL) today reported a 17 per cent increase in consolidated net profit at Rs 613 crore for the first quarter ended June 30, 2015.

The company's consolidated net profit during the same period last fiscal stood at Rs 522 crore.

However, net sales and income from operations fell during the first quarter to Rs 163.35 crore, from Rs 172.28 crore earned a year ago, it said in a filing on the BSE.

On standalone basis, the net profit for the quarter was at Rs 123 crore, down from Rs 148 crore in the year-ago period.

Total revenue on standalone basis was at Rs 163 crore during the April-June quarter of 2015-16, as against Rs 169 crore in the previous fiscal.

As on June 30, 2015, the company held strategic stakes of 31.49 per cent in Bajaj Auto Ltd (BAL), 39.29 per cent in Bajan Finserv Ltd (BFL) and 24 per cent in Maharashtra Scooters Ltd.

As such, the consolidated results of BAL and BFS are consolidated in BHIL's results, it added.

Bajaj Holdings shares closed at Rs 1425.65 on BSE, up 2.92 per cent from previous close.