India Briefs

Bajaj Auto beat market expectations with a 167 per cent jump in second quarter net profit, driven by a one off gain and aggressive cost cutting. While net profit rose to Rs 143.7 crore, sales was also higher at Rs 1,057.1 crore against Rs 985.8 crore last year.

L&T has announced a 224 per cent growth in its net profit to Rs 40.5 crore for the second quarter ended September 2001. Sales, however, showed only a marginal increase at Rs 1,776 crore (Rs 1,741 crore).

Profit accruing from the sale of a 49 per cent stake in its air catering business to Singapore Airline Terminal Services has helped Indian Hotels post a net profit of Rs 82.6 crore for the quarter ended September