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New Delhi: Shares of Bajaj Finserv Ltd (BFL) on Wednesday gained 4 per cent after the company reported over four-fold jump in its consolidated net profit for the fourth quarter ended in March 2021.

The stock jumped 4.03% to close at 10,491.65 on the BSE. During the day, it rallied 5.25 per cent to 10,615.95 -- its 52-week high.

On the NSE, it gained 3.94 per cent to 10,489.30.

Bajaj Finserv Ltd (BFL) on Wednesday reported an over four-fold jump in its consolidated net profit to 979 crore for the fourth quarter ended in March 2021, driven by its insurance business.

The company had posted a net profit of 194 crore during the corresponding January-March period of 2019-20.

The total consolidated income during the March 2021 quarter increased to 15,387 crore as against 13,294 crore in the corresponding period of the previous financial year, BFL said in a regulatory filing.

The board has recommended a dividend of 3 per share or 60 per cent on the face value of 5 per unit.

The profit after tax in 2020-21 rose to 4,470 crore from 3,369 crore in the year-ago period, it said.

The company's consolidated total income was at a record of 60,591 crore in 2020-21 compared to 54,351 crore in 2019-20.

The company's subsidiary Bajaj Allianz General Insurance Company recorded an all-time high annual profit and continued to deliver robust improvement in its underwriting result, it said.

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