Bajaj Finserv has introduced its This autumn monetary outcomes.
Bajaj Finserv This autumn Outcomes: Its whole consolidated earnings throughout January-March 2024 rose to Rs 32,042 crore, in contrast with Rs 23,625 crore within the year-ago interval
Bajaj Finserv Ltd (BFL) on Friday reported a 20 per cent bounce in its consolidated web revenue to Rs 2,119 crore for the fourth quarter ended March 31, 2024. Its whole consolidated earnings throughout January-March 2024 rose to Rs 32,042 crore, in contrast with Rs 23,625 crore within the year-ago interval.
The corporate had posted a web revenue of Rs 1,769 crore within the year-ago interval. BFL is the holding firm for the varied monetary companies companies underneath the Bajaj group.
The Board of Administrators has really useful a dividend of Re 1 (100 per cent) per fairness share of face worth of Re 1, for the monetary yr ended March 31, 2024, in line with a regulatory submitting.
The overall quantity of dividend outgo could be Rs 159.55 crore as in comparison with Rs 127.43 crore within the earlier fiscal. For the monetary yr 2023-24, the corporate witnessed a 27 per cent improve in revenue to Rs 8,148 crore, as towards Rs 6,417 crore within the earlier fiscal.
The overall consolidated earnings rose to Rs 1,10,383 crore, as towards Rs 82,072 crore within the earlier monetary yr. BFS participates within the financing enterprise via its 51.34 per cent holding in Bajaj Finance Ltd (BFL) and within the life, common, and medical insurance companies via its 74 per cent holding in two unlisted subsidiaries. Bajaj Allianz Basic Insurance coverage Firm Ltd (BAGIC) and Bajaj Allianz Life Insurance coverage Firm Ltd (BALIC).
Through the yr, the overall insurance coverage arm posted a revenue of Rs 1,550 crore, as towards Rs 1,348 crore within the earlier fiscal, up 15 per cent. As on March 31, 2024, solvency ratio was 349 per cent, which is properly above the minimal regulatory requirement of 150 per cent.
The life insurance coverage arm reported web new enterprise worth (NBV) of Rs 1,061 crore, as towards Rs 950 crore within the earlier yr. For all times enterprise, the solvency ratio stood at a wholesome 432 per cent as on March 31, 2024 as towards the minimal regulatory requirement of 150 per cent.
