Bajaj Holdings & Investment (BHIL) today reported a growth of 7.4 per cent in consolidated net profit at Rs 564 crore for the quarter ended March 2016.
The company had registered a net profit of Rs 524.9 crore in the January-March quarter of the previous fiscal.
BHIL held a strategic stake of 31.5 per cent in Bajaj Auto (BAL), 39.3 per cent in Bajaj Finserv (BFS) and 24 per cent in Maharashtra Scooters (MSL), it said in a regulatory filing.
The performance has come on top of Bajaj Finserv's consolidated results that included numbers from lending arm Bajaj Finance (BFL) and two insurance subsidiaries -- Bajaj Allianz Life Insurance (BALIC) and Bajaj Allianz General Insurance Company (BAGIC).
For the entire fiscal, BAL recorded its highest-ever profit after tax (standalone) of Rs 3,652 crore in 2015-16 against Rs 2,814 crore a year ago.
BFS (consolidated) too recorded its highest ever net profit of Rs 1,863 crore in the fiscal as against Rs 1,690 crore in 2014-15.
"Accordingly, BHIL's consolidated profit after tax (or net profit) for Q4 2015-16 increased by 7 per cent to Rs 564 crore from Rs 525 crore in year-ago period," it said.
Total income during the January-March quarter increased to Rs 124.8 crore, from Rs 84.8 crore a year earlier.
For the full year, the company's net consolidated profit rose by 12 per cent to Rs 2,265.2 crore in 2015-16, from Rs 2,029.24 crore in the previous fiscal.
Total income, however, decreased to Rs 476.7 crore during the fiscal, from Rs 558.8 crore a year ago.
On standalone basis, net profit jumped multi-fold to Rs 556 crore in January-March of 2015-16 from Rs 42 crore a year earlier.
"The company received interim dividends from group companies and other corporates. Both movements in equity markets and decline in interest rates provided an opportunity to the company to realise profit on sale of some of its investments," it said.
Standalone income increased to Rs 587.1 crore during the quarter ended March, from Rs 82.1 crore in the year-ago period.
In full year 2015-16, standalone net profit jumped 46 per cent to Rs 1,271 crore, from Rs 868 crore a year earlier. Total income increased to Rs 1,401.3 crore, from Rs 1,006.5 crore.
BHIL is an investment company whose focus is on earning income through dividends, interest and profits on investments held. It is largely dependent on the stock and money markets for its income.
The board of directors of the company at its meeting held today has recommended a final dividend of Rs 7.50 per equity share (75 per cent).
BHIL scrip closed 0.33 per cent higher at Rs 1,496.10 on BSE today.
