Bajaj Auto Ltd, a leading two and three-wheeler manufacturer, reported a higher net profit of Rs 2,041.88 crore for the third quarter of the fiscal year 2023-24. According to a regulatory filing, the operational revenue for the quarter ending December 31, 2023, was Rs 11,832.93 crore, compared to Rs 9,047.65 crore in the same quarter of the previous fiscal year. The net profit for the quarter stood at Rs 2,041.88 crore, showing an increase from Rs 1,491.42 crore in the corresponding period.
During the review period, the company sold 11,96,974 units, a notable increase from 9,83,276 units sold in the quarter ending December 31, 2022.
The Board of Directors, in a meeting held on January 8, 2024, approved a proposal for a buy-back of fully paid equity shares of the company with a face value of Rs 10 each from existing shareholders through the "Tender Offer" route. The aggregate amount for the buy-back is set at Rs 4,000 crore, at a price of Rs 10,000 per equity share, representing 4,000,000 equity shares on a proportionate basis.
(With Agency Inputs)
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