Bajaj Finserv shares climb 4% as Q4 profit jumps
PremiumBajaj 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
PremiumNew 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.
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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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