Mumbai : Financial services company, Bajaj Finserv has reported 28 per cent increase in net profit at Rs 277 crore for the July-September quarter, led by growth in its lending and general insurance businesses.
The company had posted a net profit of Rs 217 crore in the same quarter of last fiscal, 2012-13. “Growth in the second quarter (2013-14) was led by Bajaj Finance where we saw a 30 per cent growth in net profit and general insurance business which witnessed 45 per cent increase in profit after tax,” said S Sreenivasan, president finance at Bajaj Finserv.
Bajaj Finserv Ltd is in life insurance business through its subsidiary Bajaj Allianz Life Insurance, in general insurance business through Bajaj Allianz General Insurance and in the lending business through Bajaj Finance.
Finserv’s consolidated gross revenue stood at Rs 4,056 crore in the July-September quarter as against Rs 3,721 crore in the same period last year, a growth of 9 per cent.