Profit Rises in March Quarter for Bajaj Finserv to ₹ 1,346 Crore

Bajaj Finserv Ltd on Thursday reported a 37 per cent jump in its consolidated net profit at ₹ 1,346 crore for the fourth quarter ended in March 2022.

The company had posted a net profit of ₹ 979 crore during the corresponding period of 2020-21.

The consolidated income during the March 2022 quarter increased to ₹ 18,862 crore, as against ₹ 15,387 crore in the corresponding period of the previous financial year, Bajaj Finserv said in statement.

The board has recommended a dividend of ₹ 4 per share or 80 per cent on the face value of ₹ 5 per unit. The total amount of dividend is ₹ 64 crore as against ₹ 48 crore last year, it said.

The profit after tax in 2021-22 rose to ₹ 4,557 crore from ₹ 4,470 crore in the year-ago period, it said.

During the quarter, Bajaj Finance reported ₹ 2,420 crore profit as compared to ₹ 1,347 crore in the same period a year ago.