Bajaj Holdings & Investment's (BHIL) consolidated net profit shed 9.51% to Rs 1,040.16 crore on a 4.74% decline in total revenue from operations to Rs 95.57 crore in Q3 FY22 over Q3 FY21.
Consolidated profit before tax (PBT) dropped 9.85% to Rs 1,058.98 crore in Q3 December 2021 over Rs 1,174.79 crore in Q3 December 2021. Share of profits of associates skid 9.84% to Rs 989.18 crore in Q3 FY22 as compared to Rs 1,097.25 crore in Q3 FY21.
As of 30 September 2021, Bajaj Holdings & Investment's held 75 shares of Bajaj Finance, 35 lakh equity shares (or 3.14% stake) of Bajaj Auto and 33.87 lakh equity shares (or 3.04% stake) of Maharashtra Scooters.
Bajaj Auto's consolidated profit after tax stood at Rs 1,430 crore in Q3 FY22 over Rs 1,716 crore in Q3 FY21, mainly due to input cost pressures. Bajaj Finserv's (BFS) consolidated profit after tax stood at Rs 1,256 crore in Q3 FY22 as against Rs 1,290 crore in Q3 FY21, due to adverse mark to market movement on equity investmentsacross two periods. Adjusted for these movements, BFS' consolidated profit after tax increased by 43% to Rs 1,294 crore in Q3 FY22 from Rs 906 crore in Q3 FY21, aided by robust performance of Bajaj Finance. Maharashtra Scooters' profit after tax stood at Rs 3.30 crore in Q3 FY22 as compared to Rs 2.64 crore in Q3 FY21.
The cost and market value of the investment portfolio surged 36.46% to Rs 1,49,030 crore as of 31 December 2021 as against Rs 1,09,209 crore in 31 March 2021. As against a book value of Rs 1,409 per share, the NAV of the investments was at Rs 13,391 per share as on 31 December 2021.
Shares of Bajaj Holdings & Investment rose 0.27% to end at Rs 5,458.95 on BSE during intraday trade. Bajaj Holdings & Investment (BHIL) is essentially a holding company and investment company focusing on earning income through dividends, interest and gains on investments held.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU