Bajaj Finserv Q4 Results: Profit jumps over 4-fold to Rs 979 crore
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Last Updated: Apr 28, 2021, 05:59 PM IST
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Synopsis
Bajaj Finserv s total consolidated income during the March 2021 quarter increased to Rs 15,387 crore as against Rs 13,294 crore in the corresponding period of the previous financial year.
Agencies
The board of Bajaj Finserv has recommended a dividend of 3 per share or 60 per cent on the face value of Rs 5 per unit.
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NSE
NEW DELHI:
Bajaj Finserv Ltd (BFL) on Wednesday reported over four-fold jump in its consolidated net profit to Rs 979 crore for the fourth quarter ended in March 2021, driven by its insurance business. The company had posted a net profit of Rs 194 crore during the corresponding January-March period of 2019-20.
Shares of Bajaj Finserv hit a fresh 52-week high of Rs 10,113, up 4 per cent on the BSE in the intra-day trade on Monday. The stock of the holding company for various financial services businesses of the Bajaj Group surpassed its previous high of Rs 9,996.75, touched on February 2, 2021. Besides, it was also trading close to its all-time high level of Rs 10,297, hit on December 18, 2019.
In the past six trading days, the stock has rallied 16 per cent after the government proposed to increase foreign direct investment in the insurance sector to 74 per cent, a move aimed at attracting overseas players. In comparison, the S&P BSE Sensex was up 11 per cent during the same period.