Non-banking financial services firm Bajaj Finserv (BFS) has posted a net profit of ₹685 crore, up 28 per cent, during the quarter ending March 31, 2018, against ₹534 crore in the year-ago period.

The company’s total revenues for the January-March quarter of FY18 stood at ₹8,829 crore, up 25 per cent from ₹7,040 crore during the corresponding quarter of the previous fiscal.

BFS is the holding company for the various financial services businesses, such as Bajaj Finance (BFL), a listed entity, and two unlisted insurance companies – Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC).

The company said that Bajaj Finance, and its general insurance company, have had record years. While Bajaj Finance recorded the highest-ever revenue and profit after tax (PAT), BAGIC registered its highest-ever gross written premium and PAT.

BALIC also stabilised to produce growth with profits. Consequently, the consolidated total revenue and PAT are also the highest-ever.

Bajaj Finance reported a 60.5 per cent increase in its net profit at ₹720.95 crore during the fourth quarter on the back of robust interest income, lower provisions and substantial improvement in its NPAs.

The company, which has interests in consumer, commercial, SME and rural lending, said that all its segments fared “extremely well”. BFL enjoyed yet another strong year of performance aided by a diversified product mix, robust volume growth, prudent operating cost and effective risk management, continuing to deliver good results quarter after quarter,” said Rajeev Jain, Bajaj Finance’s Managing Director .

Insurance subsidiaries Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance saw healthy growth in revenues.

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