Bajaj Holdings & Investments Ltd today reported a 11.09 per cent decline in consolidated net profit at Rs 590.66 crore for fourth quarter ended March 31.
The investment firm had posted a consolidated net profit of Rs 664.37 crore in the same period a year earlier, Bajaj Holdings said in a filing to the BSE.
Bajaj Holdings said its consolidated profit on investment in associate companies during the quarter under review stood at Rs 517 crore as against Rs 607 crore in the same quarter last fiscal.
Its net sales and income from operations also decreased to Rs 63.21 crore this quarter as against Rs 81.30 crore of the same period last fiscal.
The Board of Directors of the company recommended a 300 per cent dividend of Rs 30 per share, entailing a total outgo of Rs 390 crore.
For the financial year 2013-14, Bajaj Holdings's consolidated net profit increased to Rs 1,987.56 crore as against Rs 1,856.38 crore in the previous fiscal.
Bajaj Holdings's consolidated net sales and income from operation increased to Rs 386.70 crore in the financial year 2013-14 as against Rs 337.10 crore of 2012-13 fiscal.
The investment firm has strategic stakes of 31.49 per cent in group's flagship firm Bajaj Auto Ltd, 39.16 per cent on Bajaj Finserve Ltd, 24 per cent in Maharashtra Scooters Ltd and 100 per cent in Bajaj Auto Holdings.
Bajaj Holdings's shares closed at Rs 1,022.55 per scrip, down 0.89 per cent from their previous close.
