Board of Bajaj Auto sanctions Rs.2,250 crore to invest in Bajaj Auto Credit
Saturday, 20 April 2024, 11:37 IST
By Team Startupcity
By Team Startupcity
Bajaj Auto's directory board have approved & set to support for an extra investment of Rs. 2,250 crore in its completely owned subsidiary Bajaj Auto Credit Ltd, the Bajaj Group auto major informed. The assets will be imbued in a staged way, in addition to the current Rs. 600 crores endorsed before, the regulatory filing are added.
Bajaj Auto Credit vehicles made or potentially advertised by Bajaj Auto and its subsidiaries. The organization's turnover for 2023-24 (April-March) was Rs. 16.65 crore and the total assets Rs. 258 crore, according to the regulatory recording. The declaration concurs with Bajaj Auto's powerful monetary performance in Q4FY24.
The organization's independent net worth flooded 35.1 percent year-on-year to Rs.1,936 crore in the January-March quarter, as per the outperforming projections set by a CNBC-TV18 survey, which had extended a quarterly benefit of Rs.1,870 crore.
This noteworthy investment was credited to factors including expanded volumes, a higher portion of high-edge items, cost climbs, and decreased input costs. Shares of Bajaj Auto got around 2 percent to an intraday high of Rs. 9,129 each. The stock cost has ascended more than 33 percent this year up to this point and almost 7 percent in the beyond 30 meetings.
Don't Miss
