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Bajaj Finance net up

The company had registered a net profit of Rs 743 crore in the corresponding quarter a year ago

By TT Bureau in Mumbai
  • Published 17.05.19, 12:56 AM
  • Updated 17.05.19, 12:56 AM
  • a min read
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Meanwhile, Bajaj Allianz General Insurance has reported a net profit of Rs 780 crore for the fiscal ended March 2019 compared with Rs 921 crore a year ago. (Shutterstock)

Bajaj Finance on Thursday reported a 50 per cent jump in its standalone net profit at Rs 1,114 crore for the last quarter of the fiscal ended March 2019.

The company had registered a net profit of Rs 743 crore in the corresponding quarter a year ago.

Total income during the January-March quarter of 2018-19 rose to Rs 4,887.76 crore from Rs 3,424.99 crore in the year-ago period, the company said in a regulatory filing.

For the financial year ended March 2019, the net profit rose to Rs 3,890 crore compared with Rs 2,485 crore in 2017-18.

The gross non-performing asset (NPAs) stood at 1.54 per cent and the net NPA at 0.63 per cent of the advances at the end of March 2019.

The company’s board has recommended a dividend of Rs 6 per equity share, or 300 per cent, of face value of Rs 2.

Shares of Bajaj Finance rose 3.64 per cent to close at Rs 3,111.80 on the BSE. Intra-day, it had risen 4.29 per cent to Rs 3,131.50. It was the top gainer among the 30 Sensex companies. On the NSE, the shares climbed 4 per cent to Rs 3,124 apiece.

Meanwhile, Bajaj Allianz General Insurance has reported a net profit of Rs 780 crore for the fiscal ended March 2019 compared with Rs 921 crore a year ago. Its gross written premium soared to Rs 11, 097 crore, while the underwriting profit came in at Rs 18 crore for the 2018-19 financial year.