Bajaj Auto hikes stake in Yulu Bikes to 18.8%

Bajaj Auto said that it has made further investment of Rs 45.75 crore for additional 1% stake in Yulu Bikes, which is India's largest shared electric two-wheeler mobility company.

Post the aforesaid fresh investment, the companys shareholding in Yulu Bikes now stands at 18.8% of the paid-up equity share capital of Yulu Bikes.

Bajaj Auto is engaged in the business of development, manufacturing and distribution of automobiles such as motorcycles, commercial vehicles, electric two-wheelers etc. and parts thereof.

The company's consolidated net profit jumped 17.5% to Rs 2,020.05 crore in Q2 FY24 as compared with Rs 1719.44 crore in Q2 FY23. Net sales rose 6.8% YoY to Rs 10,584.67 crore in Q2 FY24.

 

The scrip shed 0.74% to currently trade at Rs 8442.10 on the BSE.

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