This Article is From May 15, 2014

Bajaj Holdings Q4 Net Dips 11 Per Cent to Rs 590 Crore

Bajaj Holdings Q4 Net Dips 11 Per Cent to Rs 590 Crore
New Delhi:

Bajaj Holdings and Investment Ltd on Thursday reported an 11.09 per cent decline in consolidated net profit at Rs 590.66 crore for fourth quarter that ended on March 31, 2014.

The investment firm had posted a consolidated net profit of Rs 664.37 crore for the corresponding quarter a year ago, it said in a filing to the BSE.

Bajaj Holdings said its consolidated profit on investment in associate companies during the quarter under review stood at Rs 517 crore from Rs 607 crore a year ago.

Net sales and income from operations also decreased to Rs 63.21 crore this quarter as against Rs 81.30 crore of the same period last fiscal year.

Bajaj Holdings' board of directors recommended a 300 per cent dividend of Rs 30 per share, entailing a total outgo of Rs 390 crore.

For the entire financial year 2013-14, Bajaj Holdings' consolidated net profit increased to Rs 1,987.56 crore as against Rs 1,856.38 crore in the previous fiscal year (2012-13).

Consolidated net sales and income from operation increased to Rs 386.70 crore in the financial year 2013-14 from Rs 337.10 crore in fiscal year 2012-13.

The investment firm has strategic stakes of 31.49 per cent in the group's flagship firm Bajaj Auto Ltd, 39.16 per cent in Bajaj Finserve Ltd, 24 per cent in Maharashtra Scooters Ltd and 100 per cent in Bajaj Auto Holdings.

Shares in Bajaj Holdings, on Thursday, ended at Rs 1,022.55 apiece on the BSE, down 0.89 per cent from the previous close.