Click to play videoMumbai: Bajaj Holdings and Investment, the company formed out of de-merging Bajaj Auto, has reported lower net profit of Rs 15 crore during the first quarter of the current financial year compared to Rs 55 crore in the same period last year on a stand alone basis.
Income from operations was lower at Rs 20 crore in the first quarter compared to Rs.66 crore in the corresponding period last year.
The company said the opportunities for booking profits on investment were limited during the quarter due to depressed equity market conditions. Bajaj Holdings' consolidated profits, after taking into account its share in Bajaj Auto, worked out to Rs 51 crore in the first quarter against Rs 104 crore during the corresponding quarter last year.
The market value of company's investment as of June 30 stood at Rs 8,628 crore. Company MD Rahul Bajaj sounded an optimistic note and predicted that exports would help in earnings.
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