May 13, 2021

Bajaj Fiserv Profit Surged 5 Times In March Quarter, Stock Surges Over 7%

Bajaj Fiserv Gains After Reporting 5-Fold Jump In Net Profit During March Quarter

Bajaj Finserv was last trading 6.76 per cent higher at Rs 11,200.80 on the BSE.

Share price of Bajaj Finserv gained more than seven per cent on Thursday, April 29, a day after the non-banking finance company reported its January-March quarter results for the financial year 2020-21. On Thursday, Bajaj Finserv opened on the BSE at Rs 10,550, touching an intra day high of Rs 11,299.65, and an intra day low of Rs 10,535.05, in the trading session so far. According to a regulatory filing by the firm to the BSE, Bajaj Finserv reported a net profit of Rs 979 crore in March quarter, registering a five-fold jump in profit from Rs 194 crore in the corresponding quarter last year. (Also Read: Bajaj Finserv Profit Surges More Than 5 Times To ₹ 979 Crore In Q4 )

According to the statement, Bajaj Finserv’s total revenue from operations jumped 16 per cent to Rs 15,385 crore in the January-March quarter. the board of the company recommended a dividend of three per share or 60 per cent of the face value of Rs 5 per unit. The Pune-based company’s total income during the fourth quarter of fiscal 2020-21 increased to Rs 15,387 crore, compared to Rs 13,289 crore in the corresponding period of last year. The company’s subsidiary – Bajaj Allianz General Insurance Company, reported an all-time high annual profit in the March quarter.

On the NSE, Bajaj Finserv opened at Rs 10,540.00, touching an intra day high of Rs 11,300.00, and an intra day low of Rs 10,520.00, in the session so far. It was last trading 6.58 per cent higher at Rs 11,180 on the NSE.

Bajaj Finserv was last trading 6.76 per cent higher at Rs 11,200.80 on the BSE.