Last Updated on January 31, 2024 by ethinos
Table of Content
Highlights:
Q3 FY24 vs Q3 FY23:
- Consolidated profit after tax: ₹1,644 crore vs ₹1,286 crore (28% increase).
- Standalone profit after tax: ₹66 crore vs ₹49 crore.
Consolidated Results Q3 FY24:
- Consolidated profit after tax: ₹4,551 crore vs ₹3,498 crore (30% increase).
- Standalone profit after tax: ₹1,692 crore vs ₹1,666 crore.
- a. Bajaj Auto (consolidated) profit after tax increased by 38% to ₹2,033 crore in Q3 FY24 vs ₹1,473 crore in Q3 FY23. Bajaj Auto (standalone) registered an excellent EBITDA margin of 20.1%.
- b. BFS (consolidated) profit after tax increased by 21% to ₹2,158 crore in Q3 FY24 vs ₹1,782 crore in Q3 FY23, aided by strong performance of BFL. Adjusted for mark to market movement on equity investments across two periods, profit increased by 18%.
- c. Maharashtra Scooters Ltd. profit after tax stood at ₹1 crore in Q3 FY24 vs ₹3 crore in Q3 FY23.
- Consequently, BHIL’s consolidated profit after tax increased by 28% to ₹1,644 crore in Q3 FY24 vs ₹1,286 crore in Q3 FY23.
Additional Read: Q3 Results Dashboard
Summary of Consolidated Financials of BHIL is as under:
| ₹ in Crore | Q3 FY24 | Q3 FY23 | 9M FY24 | 9M FY23 | FY23 |
| Total income | 133 | 116 | 492 | 421 | 527 |
| Share of profits of associates | 1.578 | 1,235 | 4.402 | 3,360 | 4,667 |
| Profit after tax | 1,644 | 1,286 | 4,551 | 3,498 | 4,851 |
Standalone Results
| ₹ in Crore | Q3 FY24 | Q3 FY23 | 9M FY24 | 9M FY23 | FY23 |
| Dividend Received | 12 | 12 | 1,606 | 1,564 | 1,569 |
| Profit on debt securities (net) | 9 | 10 | 23 | 30 | 30 |
| Interest on investments and other income | 104 | 85 | 288 | 247 | 338 |
| Total income | 125 | 107 | 1,917 | 1,841 | 1,937 |
| Profit after tax (a) | 66 | 49 | 1,692 | 1,666 | 1,712 |
| Other Comprehensive Income, net of tax (b) | 582 | 188 | 1,439 | 439 | 68 |
| Total comprehensive income (a)+ (b) | 648 | 237 | 3,131 | 2,105 | 1,780 |
Additional Check: Bajaj Holdings & Investments Share Price
Dividends received from corporates in 02 FY24 boosted standalone total income and profit after tax (PAT) of the Company for 02 FY24 and is reflected in the results of 9M FY24 too.
About Bajaj Holdings & Investment Limited (BHIL)
BHIL operates primarily as a holding and investment company, maintaining strategic stakes in Bajaj Auto Ltd., Bajaj Finserv Ltd., and Maharashtra Scooters Ltd., along with other group companies. With financial investments exceeding ₹12,500 crore at market value, BHIL also oversees a wholly owned subsidiary, Bajaj Auto Holdings Ltd. (BAHL), which in turn holds investments in group companies. Major group companies consolidated within BHIL include Bajaj Auto Ltd. (BAL), where BHIL’s direct stake of 34.15% is combined with Maharashtra Scooters Ltd.’s 2.46% stake, adopting an equity pickup method. Similarly, in Bajaj Finserv Ltd. (BFS), BHIL’s direct stake of 39.06% is augmented by BAHL’s 0.13% stake and Maharashtra Scooters Ltd.’s 2.38% stake, employing an equity pickup approach. Maharashtra Scooters Ltd. (MSL), in which BHIL holds a direct stake of 51%, undergoes full-line-by-line consolidation. Notably, BAL comprises a 49.90% stake in Pierer Bajaj AG, with BHIL’s share in BAL’s profit adjusted for the elimination of cross-holding at 3.14%. BFS encompasses a 51.42% stake in Bajaj Finance Ltd., along with 74% stakes in both Bajaj Allianz General Insurance Company Ltd. and Bajaj Allianz Life Insurance Company Ltd. BHIL is a constituent of the BSE 100 and Nifty 100 indices, reflecting the top 100 companies listed in India, while Bajaj Auto Ltd. and Bajaj Finserv Ltd. are components of the benchmark BSE Sensex and Nifty 50 indices for large-cap stocks, with Bajaj Auto Ltd. further included in the Nifty 50 index. Additionally, Maharashtra Scooters Ltd. is listed on the stock exchange.
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Source:
https://www.bhil.in/pdf/BHIL%20Results%20Q3%20FY24.pdf
