Financial services provider, Bajaj Finserv, on Wednesday reported a jump of 94.8 per cent in its net profit at Rs 128.73 crore for the quarter ended June, 2011 due to growth in its insurance and lending businesses.
The company had reported a net profit of Rs 66.08 crore in April—June quarter of last year.
Bajaj Finserv’s total income grew five fold to Rs 612.64 crore during the first quarter of the current fiscal, against Rs 123.91 crore in the year ago period, it said in a filing to the Bombay Stock Exchange (BSE).
As per the filing, company recorded growth in its businesses including insurance segment and lending arms.
Meanwhile, Board of Bajaj Finance approved the issuance of 60 lakh warrants on preferential basis to Bajaj Finserv at an issue price of Rs 651 per warrant.