Bajaj Finserv Ltd reported a marginal rise in fourth quarter consolidated net profit at Rs 881 crore against Rs 872.58 crore a year ago.
The net profit is after taxes, minority interest and share of profit of associates.
The growth in profit was led by growth in the company's general insurance business and its subsidiary – Bajaj Finance Ltd's good performance.
Consolidated figures capture the financial performance of all the subsidiaries of Bajaj Finserv Ltd – Bajaj Allianz Life Insurance, Bajaj Allianz General Insurance, Bajaj Finance Ltd and its wind power generation unit. This company is a financial holding company.
The company's life insurance business (Bajaj Allianz Life Insurance) wrote 14.33 per cent less premium in the January to March quarter at Rs 2,744 crore (Rs 3,203 crore).
Its general insurance business grew 25 per cent to Rs 1,292 crore (Rs 1,035 crore).
For the full year the company's net profit grew 20 per cent at Rs 1,338 crore (Rs 1,115 crore).
The board recommended a dividend of Rs 1.50 per share, which is 5 percentage points higher from the year ago period.
BAJAJ FINANCE Q4 PROFIT JUMPS
Bajaj Finance Ltd posted January to March net profit of Rs 108 crore, up 52 per cent, from Rs 71 crore a year ago.
The Chief Executive Officer, Mr Rajeev Jain, said robust growth in consumer durables and two-wheeler finance business and SME business boosted profitability.
For the full year ended March 31, 2012, net profit jumped 64 per cent to Rs 406 crore (Rs 247 crore).
The board of directors recommended a dividend of Rs 12 per share.
Shares of the Pune-based Bajaj Finserv and Bajaj Finance closed at Rs 709.55, down 1.03 per cent and Rs 844.10, down 4.11 per cent respectively on the BSE.