Bajaj Finserv Q1 net profit up 41% to Rs 8.26 billion, revenue jumps

For the life insurance arm, new business premium in the quarter grew to Rs 7.2 billion, as against Rs 6.8 billion earlier

Bajaj Finserv, holding company of the Bajaj Group’s financial services companies, had net profit growth of 41 per cent to Rs 8.26 billion for the quarter ended June from the same period a year before.

Bajaj Allianz General Insurance’s gross written premium grew 23 per cent to Rs 24.3 billion. Underwriting profit increased significantly to nearly Rs 1.3 billion, from Rs 120 million in the same quarter of FY18. Net profit for the general insurer grew 37 per cent to Rs 2.9 billion. The combined ratio improved to 90.2 per cent, from 95.8 per cent in the comparative period.

For the life