 "Bajaj Finserv Q1 results: Net profit increases 10% to Rs 2,138 crore")
Bajaj Finserv Ltd (BFL) on Wednesday reported 10 per cent increase in consolidated net profit at Rs 2,138 crore for the first quarter ended June 2024.
The company had logged a net profit of Rs 1,943 crore in the year-ago period.
Total income during the quarter increased to Rs 31,480 crore from Rs 23,280 crore in the year-ago period, BFL said in a regulatory filing.
BFL is the holding company for various financial services businesses under the Bajaj group.
Total expenditure also rose to Rs 25,514 crore from Rs 18,157 crore in the same quarter a year ago.
During the quarter, its subsidiary Bajaj Allianz General Insurance reported 39 per cent jump in profit to Rs 576 crore.
Another subsidiary Bajaj Allianz Life Insurance's profit increased to Rs 104 crore from Rs 94 crore in the same quarter a year ago.