Money & Banking

Bajaj Finserv Q3 profit up 15%

Our Bureau. Mumbai | Updated on January 20, 2021

Bajaj Finserv Ltd (BFS) reported a 15 per cent increase in third quarter consolidated net profit at ₹1,290 crore against ₹1,126 crore in the year-ago period.

BFS is the holding company for the various financial services businesses under the Bajaj Group. BFS participates in the financing business through its 52.74 per cent holding in Bajaj Finance Ltd (BFL) and in the protection business through its 74 per cent holding in Bajaj Allianz General Insurance Company Ltd (BAGIC) and Bajaj Allianz Life Insurance Company Ltd (BALIC).

BFL reported a 29 per cent decline in consolidated (including the financial results of subsidiaries Bajaj Housing Finance and Bajaj Financial Securities) net profit in the third quarter ended December 31, 2020, at ₹1,146 crore against ₹1,614 crore in the year-ago quarter.

BAGIC reported a 73 per cent jump in net profit in the reporting quarter at ₹330 crore against ₹191 crore in the year-ago period.

BALIC reported a 17 per cent decline in third quarter net profit at ₹118 crore against ₹143 crore in the year-ago period.

BFS shares inched up 0.18 per cent to close at ₹8,938.45 apiece on the BSE against the previous close of ₹8922.40. BFL shares nudged up 0.41 per cent to close at ₹4,981.15 apiece on the BSE against the previous close of ₹4,960.85.

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Published on January 20, 2021
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