Bajaj Finserv Ltd (BFS) reported a 3 per cent year-on-year decline in third quarter consolidated net profit at ₹1,256 crore against ₹1,290 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 52.65 per cent holding in Bajaj Finance Ltd (BFL) and in the protection business through its 74 per cent holding each in Bajaj Allianz General Insurance Company Ltd (BAGIC) and Bajaj Allianz Life Insurance Company Ltd (BALIC).

The company, in its presentation, said the net profit includes unrealised mark-to-market (MTM) losses on equity investments measured at fair value through profit and loss of BALIC (₹19 crore) and BAGIC (₹19 crore) in Q3 FY22 as compared to MTM gains of ₹384 crore in Q3 FY21.

BFL reported a 85 per cent jump 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 ₹2,125 crore against ₹1,146 crore in the year ago quarter.

BAGIC reported a 8 per cent decline in net profit in the reporting quarter at ₹304 crore against ₹330 crore in the year ago period.

BALIC reported a 25 per cent decline in third quarter net profit at ₹88 crore against ₹118 crore in the year ago period.

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