Bajaj Corporation reports 17.2% YoY rise in net profit at Rs 57.79 crore

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NEW DELHI: Bajaj Corp posted a 17.2 per cent year-on-year rise in net profit for the quarter ended December 31, 2016.

For the period under review, the company reported a net profit of Rs 57.79 crore compared with Rs 49.31 crore in the same period last year.

Operating profit for the period stood at Rs 59.97 crore against Rs 66.67 crore a year earlier.

The board of Bajaj Corporation also recommended an interim dividend of Rs 11.50 per equity share of Rs 1 each (face value), for the quarter ended December 31, 2016.

The company has fixed January 24 as the record date for the purpose of payment of dividend.

Net sales of the company increased slipped 4.75 per cent to Rs 186.39 crore during Oct-December quarter. It had reported net sales of Rs 195.70 crore in the same quarter last year.

The stock is currently trading at Rs 373.70 on NSE up by 0.62 per cent