Bajaj Holdings down on Q3 numbers

Bajaj Holdings is amongst the top losers on the BSE, down over 2.5% at Rs.1433, with an intra day low at Rs.1410.

The market is disappointed over the company’s disappointing Q3FY15 performance. Its consolidated net profit fell 4.45% (YoY) at Rs.472 crore on a 15% fall in total income at Rs.84 crore.

Bajaj Holdings with a sizeable pool of cash and cash equivalents, is essentially an investment company, holding as on 31 December 2014, strategic stakes of 31.49% in Bajaj Auto Limited (BAL) and 39.29% in Bajaj Finserv Limited (BFS), the results of which are consolidated with Bajaj Holdings. The biggest attraction in this company, is its holding. Its cost of investment in BAL, BFS and Maharashtra Scooters was at Rs.1030 crore at end of Q3, with a market value of Rs.30,589 crore.