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Financial services company Bajaj Finserv Ltd posted a 14 per cent growth in its consolidated first quarter net profit helped by robust performance of its non-banking finance company – Bajaj Finance.
In the April to June period, the Pune-based company posted a net profit of Rs 319 crore against Rs 279 crore, a year ago.
Total revenue from its group operations increased 11 per cent to Rs 3,855 crore.
Consolidated results includes the performance of Bajaj Allianz Life Insurance, Bajaj Allianz General Insurance, Bajaj Finance Limited and other small entities.
Bajaj Finance’s profit grew by a fifth in the reporting quarter to Rs 211 crore. Total income went up 34 per cent to Rs 1,246 crore.
The company’s premium collection in the life insurance business continued to decline.
Shares of Bajaj Finserv closed at Rs 947.70, up 2.57 per cent on the Bombay Stock Exchange.
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