Bajaj Finserv, the financial services arm of the Bajaj Group, posted a net profit of Rs 42 crore for the quarter ended June 30, 2009. It had posted a loss of Rs 36 crore in the corresponding period last year.

The group’s life insurance arm, Bajaj Allianz Life Insurance Company, was the biggest contributor to the firm’s income. Bajaj Allianz has posted a profit of Rs 68 crore in the June quarter. In the year-ago quarter, it had posted a loss of Rs 3 crore.

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