Bajaj Finserv Ltd (BFS) on Thursday reported a 37.5 percent rise in its consolidated net profit to Rs 1,346 crore for the quarter ended March 2022. BFS, the holding company of various financial businesses under the Bajaj group, had reported a net profit of Rs 979 crore in the year-ago period.
Its consolidated total income rose 22.5 percent to Rs 18,862 crore during the January-March period of 2021-22, from Rs 15,387 crore a year ago, Bajaj Finserve said in a regulatory filing.
The consolidated numbers include the results of Bajaj Finance Ltd (BFL), Bajaj Allianz General Insurance Co Ltd (BAGIC) and Bajaj Allianz Life Insurance Co Ltd (BALIC). The company said it has recorded its highest-ever assets under management and annual consolidated profit after tax in 2021-22.
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BAGIC maintained its market position and underwriting discipline where most peers continued to chase market share, it said, adding the general insurer also recorded its highest-ever gross written premium and profit after tax during the year. BALIC continued its excellent performance and recorded industry-beating growth of 49 percent in individual rated new business premium in FY22, BFS said.
It also recorded the highest-ever gross written premium and strong growth in new business value in FY22. Bajaj Finserv said the board of directors of the company approved a dividend of Rs 4 per share for the financial year ended March 2022. The total amount of dividend is Rs 64 crore, the company said.
Shares of the company traded at Rs 14,994.70 apiece on BSE, up by 1.12 per cent from the previous close.
(Edited by : Asmita Pant)
First Published: Apr 28, 2022 5:32 PM IST
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