 "Bajaj Finserv Q1 results: Consolidated net profit up 48% to Rs 1,943 crore")
Bajaj Finserv Ltd’s (BFL) consolidated net profit rose by 48 per cent year-on-year (YoY) to Rs 1,943 crore in the first quarter ended June 30, 2023.
BFL is a listed holding entity for finance and insurance businesses of Bajaj group. Its consolidated total income rose by 47 per cent YoY to Rs 23,280 crore in the reporting quarter from Rs 15,888 crore in Q1FY23.
The interest income rose to Rs 12,130 crore in Q1FY24 from Rs 8,971 crore in Q1FY23.
The premium and other operating income from insurance business grew to Rs 8,202 crore in Q1Fy24 from Rs 7,067 crore a year ago.
The finance cost shot up to Rs 4,020 crore from Rs 2,563 crore. The claims paid stood at Rs 4,158 crore in Q1FY24 up from Rs 3,488 crore in Q1FY23. Fees and commission expenses stood at Rs 1435 crore as against Rs 913 crore in Q1FY23.
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