Bajaj Finserv’s quarterly consolidated net profit rose 3.63 per cent per cent to Rs 913 crore as the life insurance business of the holding company dragged down the overall performance.
In the January-March quarter of FY 2012-13, the holding company had reported a net profit of Rs 881 crore.
Revenue rose about three per cent to Rs 5,117 crore. This includes the premiums written in life and general insurance businesses, Bajaj Finance’s revenue, and revenues of other smaller subsidiaries.
The overall quarterly profit of the Bajaj Allianz Life Insurance Company fell about 10 per cent to Rs 1,038 crore. In the reporting quarter, Bajaj Allianz General Insurance Company recorded a profit of Rs 87 crore against a loss of Rs 59 crore, a year ago.
In the reporting quarter, the finance costs of Bajaj Finserv rose to Rs 326 crore from Rs 233 crore, a year ago.
The company’s board recommended a dividend of Rs 1.50 per share.
Shares of the company closed at Rs 755, down 0.89 per cent, on the Bombay Stock Exchange.
satyanarayan.iyer@thehindu.co.in