Mumbai7 minutes ago
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Bajaj Finserv, a part of the Bajaj Group, has released its June quarter results. The company’s consolidated profit stood at Rs 833 crore during April-June 2021, as against Rs 1215 crore in the same quarter last year. That is, on an annual basis, the company’s profit has decreased by 46%.
The total income of the company has also come down from Rs 14,192 crore to Rs 13,949 crore.
In an exchange filing, the company said that in the difficult times of the pandemic, our focus is on managing risk. Along with this, attention is also being given to growth. The income of the company has increased from Rs.6615 crores to Rs.6937 crores. The life insurance business has strengthened in the June quarter despite strict lockdowns in place. During this period, the new business premium registered a growth of 75% year-on-year. Along with this, premium renewal has also increased by 27%.
Segment-wise, Bajaj Finserv has made a profit of Rs 362 crore from the general insurance business, which was Rs 395 crore for the year. Similarly, the profit of life insurance business also declined from Rs 130 crore to Rs 84 crore.