Bajaj Finserv Q4 net profit up 36%

Bajaj Finserv Ltd has posted 36 per cent rise in consolidated net profit to Rs 1,113.83 crore for the March quarter of financial year 2017-18.

It had a net profit of Rs 818.72 crore in the January-March quarter of 2016-17.

Total revenues of the company grew by 25.4 per cent to Rs 8,829.35 crore in the fourth quarter of last fiscal as against Rs 7,040.17 crore in the year-ago period, Bajaj Finserv said in a regulatory filing.

For the entire 2017-18, the company's net profit increased by 25.8 per cent to Rs 4,339.88 crore, from Rs 3,449.71 crore.

Income in 2017-18 stood at Rs 30,599.41 crore, up from Rs 24,507.72 crore earned in 2016-17.

Directors recommend a dividend of Rs 1.75 per share (35 per cent) subject to approval of shareholders, it said in a regulatory filing.

Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group.

It is engaged in the business of providing financial services for asset acquisition through financing, general insurance, life and health insurance and retirement and savings solutions.

Stock of Bajaj Finserv closed 4.67 per cent up at Rs 5,566.40 on BSE.