Industry

Bajaj Finserv shares climb 4% as net jumps fourfold

A man walks out of the Bombay Stock Exchange (BSE) building in Mumbai, India, February 28, 2020.File.  

Shares of Bajaj Finserv Ltd. (BFL) on Wednesday gained 4% after the company reported a more than fourfold jump in consolidated net profit for the fourth quarter ended in March 2021.

The stock jumped 4.03% to close at ₹10,491.65 on the BSE. During the day, it rallied 5.25% to ₹10,615.95, a 52-week high.

On the NSE, the stock gained 3.94% to ₹10,489.30.

Bajaj Finserv Ltd. (BFL) on Wednesday reported a more than four-fold jump in its consolidated net profit to ₹979 crore for the fourth quarter ended in March 2021, driven by its insurance business.

The company had posted a net profit of ₹194 crore during the corresponding January-March period of 2019-20.

The total consolidated income during the March 2021 quarter increased to ₹15,387 crore as against ₹13,294 crore in the corresponding period of the previous financial year, Bajaj Finserv said in a regulatory filing.


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Printable version | Jun 22, 2021 11:56:25 PM | https://www.thehindu.com/business/Industry/bajaj-finserv-shares-climb-4-as-net-jumps-fourfold/article34433605.ece

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