Bajaj Holdings Q1 net rise seven folds

Bajaj Holdings & Investment today reported a consolidated net profit of Rs 385.08 crore for the first quarter ended June 30, a seven-fold rise over the same in the year-ago period.

The company had a consolidated net profit of Rs 51.37 crore during the June quarter a year earlier, Bajaj Holdings & Investment said in a filing to the Bombay Stock Exchange.

The consolidated total income of the investment firm rose to Rs 304.50 crore during the three-month period ended June 30, 2009, from Rs 21.64 crore of the corresponding period a year ago.

On a standalone basis, Bajaj Holdings & Investment posted a net profit of Rs 291.20 crore during the latest quarter, a 19-fold growth over that in the same period last year.

Shares of Bajaj Holdings & Investment closed at Rs 401.20 on BSE, up by 4.37 per cent from its previous close.