Bajaj Holdings Q2 net rises 23% at Rs 698 crore

Bajaj Holdings & Investment has reported a 23 per cent rise in consolidated net profit at Rs 697.92 crore in the second quarter ended September 30, 2016.
Company's net profit in the corresponding July-September quarter of previous fiscal stood at Rs 567.79 crore.
Total income (consolidated) has increased to Rs 271.99 crore for the quarter ended September 30, 2016 from Rs 111.08 crore for the same quarter of previous fiscal, the company said in a regulatory filing.
On a standalone basis, company's net profit declined by 63.7 per cent to Rs 198.44 crore as compared to Rs 546.23 crore in the same quarter a year ago, it added.

Standalone income decreased to Rs 314.59 crore during the quarter from Rs 576.60 crore a year earlier.
Bajaj Holdings & Investment is a holding company in addition to being an investment company.
As a holding company, it holds strategic stakes of 31.49 per cent in Bajaj Auto, 39.29 per cent in Bajaj Finserv and 24 per cent in Maharashtra Scooters.
Stock of the company today closed 1.41 per cent higher at Rs 2,172.75 on BSE.