Bajaj Finserv reports over 31 per cent decline in consolidated net profit
Bajaj Finserv on Wednesday reported an over 31 per cent decline in consolidated net profit at Rs 833 crore for the first quarter ended June 2021. The company had reported a net profit of Rs 1,215 crore a year ago.
Consolidated total income also fell to Rs 13,949 crore from Rs 14,192 crore.
The consolidated figures of Bajaj Finserv include results of its wholly owned subsidiaries Bajaj Finance (BFL), Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC).
According to the break-up, Bajaj Finance saw a 4.2 per cent rise in consolidated net profit at Rs 1,002 crore during the quarter. BAGIC reported an 8.4 per cent decline in net profit at Rs 362 crore, while BALIC’s net profit declined by 35.4 per cent to Rs 84 crore.
Jubilant Foodworks on Wednesday reported a consolidated net profit of Rs 69.06 crore in the first quarter ended June 30, aided by higher revenues despite the second wave of Covid-19 disrupting operations.
The company, which operates popular fast-food chains Domino’s Pizza, had posted a consolidated net loss of Rs 74.47 crore a year ago. Revenue from operations stood at Rs 893.19 crore compared with Rs 388.41 crore a year ago.
ICICI Securities has reported a 61 per cent jump in profit after tax (PAT) at Rs 311 crore in three months ended June 2021 on account of a growth in revenue and improvement in margins. The company had posted a PAT of Rs 193 crore a year ago. Revenue rose 37 per cent to Rs 748 crore from Rs 546 crore a year ago.
Tyre major Ceat on Wednesday posted a consolidated net profit of Rs 23 crore for the first quarter ended June 30, 2021.
The company had reported a net loss of Rs 35 crore for the year-ago period.