Bajaj Finserv slips on disappointing Q4 numbers

Bajaj Finserv slipped 0.13% to Rs 1,448.25 at 10:50 IST on BSE after consolidated net profit dropped 0.07% to Rs 707.12 crore on 17.07% rise in total income to Rs 2406.65 crore in Q4 March 2015 over Q4 March 2014.

The result was announced after market hours yesterday, 20 May 2015.

Meanwhile, the S&P BSE Sensex was down 89.16 points or 0.32% at 27,748.05.

On BSE, so far 805 shares were traded in the counter as against average daily volume of 10,146 shares in the past one quarter.

The stock hit a high of Rs 1,456 and a low of Rs 1,440.35 so far during the day. The stock had hit a record high of Rs 1,575 on 13 March 2015. The stock had hit a 52-week low of Rs 840 on 6 February 2014.

The stock had outperformed the market over the past one month till 20 May 2015, rising 10.8% compared with Sensex's 0.18% fall. The scrip had also outperformed the market in past one quarter, declining 2.07% as against Sensex's 4.77% fall.

The large-cap stock has equity capital of Rs 79.56 crore. Face value per share is Rs 5.

Bajaj Finserv said that the company recorded its highest ever consolidated profit in Q4 March 2015.

Bajaj Finserv said that the conditions continue to be challenging for the financial sector as a whole. Under such circumstances, the strong growth delivered by Bajaj Finance and Bajaj Allianz General Insurance Company (BALIC) is a testimony to the resilience of the group as well as the quality of the management across these enterprises. BALIC, which faced challenges in coping with significant changes in market dynamics, has improved on its new businesses, Bajaj Finserv said.

Bajaj Finserv said that the board of directors of the company at its meeting held yesterday, 20 May 2015, inter alia, has recommended a dividend of Rs 1.75 per share for the year ended 31 March 2015 (FY 2015).

Bajaj Finserv was formed in April 2007 as a result of its demerger from Bajaj Auto to further the Group's interests in financial services. This demerger enabled Bajaj Finserv to independently run the core businesses of Lending, Insurance and Wealth Advisory. Bajaj Finserv is the holding company for the financial services businesses of the Bajaj Group.

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