Bajaj Holdings & Investments Ltd., formerly Bajaj Auto and an investment company, reported a higher net profit for the fourth-quarter, both on consolidated and stand-alone basis, on increased income.
Consolidated Results
The Pune-based company posted a fourth-quarter consolidated net profit, after minority interest and share of profits of associates, of Rs.664.37 crore or Rs.59.70 per share, compared with Rs.628.97 crore or Rs.56.50 per share in the year-ago quarter, reflecting a six percent growth.
Results for the quarter included a share of profit on investments in associates of Rs.606.85 crore, compared with Rs.588.01 crore last year.
For the quarter, its net income from operations rose by 27 percent to Rs.81.22 crore from the Rs.63.81 crore for the same period last year.
For the 12 months, the company's consolidated net profit, after minority interest and share of profits of associates, was Rs.1,856.38 crore, higher by 11 percent than the Rs.1,679.17 crore in the corresponding period last year. Net income from operations amounted to Rs.336.88 crore, compared with Rs.295.31 crore for the comparable period a year ago, reflecting a 14 percent drop.
Results for the year included a share of profit on investments in associates of Rs.1,602.69 crore, compared with Rs.1,480.70 crore in the corresponding quarter last year.
Stand-alone Results
Bajaj Holdings reported fourth-quarter stand-alone net profit of Rs.55.90 crore or Rs.5.00 per share, compared with Rs.42.85 crore or Rs.3.90 per share in the year-ago quarter. Net profit and earnings per share grew by 30 and 28 percent respectively,
For the quarter, the company's net income from operations increased by 29 percent to Rs.80.03 crore from the Rs.62.19 crore for the same period last year.
For the year, the company's stand-alone net profit was Rs.663.33 crore, up by 17 percent from the Rs.567.46 crore last year, due to lower profit on sale of investments. Net income from operations rose by 15 percent to Rs.743.68 crore from Rs.647.93 crore a year ago.
As at the end of this March, the company's total investments in equity shares, fixed income securities and fixed deposits, as per market value, amounted to Rs.26,231 crore, compared with Rs.23,769 crore as at the end of March last year.
The company's Board had recommended a dividend of 250 percent or Rs.25.00 per share of Rs.10 for the fiscal year 2013, to be paid between July 23 and July 25.
At the BSE, Bajaj Holdings closed Thursday's trading at Rs.915.10, down 0.54 percent from the previous close.
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