Close watch on stocks
Close watch on stocks
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Shares of Bajaj Finance gained over 7 percent on Wednesday after the company reported a 42 percent jump in consolidated net profit for the fourth quarter of the fiscal ended March 2021.

It jumped 7 per cent to Rs 5,215.20 on the BSE. At the NSE, it gained 7.19 per cent to Rs 5,215.

Bajaj Finance Ltd (BFL) on Tuesday reported a 42 percent jump in consolidated net profit at Rs 1,347 crore for the fourth quarter of the fiscal ended March 2021.

The company's net profit stood at Rs 948 crore in the January-March period of the preceding fiscal year 2019-20.

The consolidated figures of BFL include results of wholly-owned subsidiaries Bajaj Housing Finance Ltd (BHFL) and Bajaj Financial Securities Ltd (BFinsec).

Net interest income during the quarter also dipped 1 percent to Rs 4,659 crore, from Rs 4,684 crore in Q4 FY20, it said.

Total income fell by 5 percent to Rs 6,855 crore, from Rs 7,231 crore earlier.

For the full year 2020-21, net profit dropped 16 percent to Rs 4,420 crore, as against Rs 5,264 crore in 2019-20.

Total income during the year, however, rose 1 percent to Rs 26,683 crore as against Rs 26,385 crore.

Bajaj Finance said its board of directors has recommended a dividend of Rs 10 per equity share for FY21.

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