The holding company of various financial services within the Bajaj group proposed a dividend of ₹1 per equity share for 2023-24, expected to be credited around July 26-27.
Bajaj Finance on Thursday reported a 21% increase in net profit for the quarter to ₹3,825 crore. Net total income increased 25% to ₹9,714 crore, up from ₹7,775 crore a year ago. Assets under management expanded to ₹3,30,000 crore from ₹2,47,000 crore during this period.
In the insurance sector, Bajaj Finserv’s general insurance business reported an 18% increase in profit after tax for the January-March period to ₹380 crore, up from ₹322 crore a year earlier. Similarly, the company’s life insurance business saw an increase in profit after tax during the quarter to ₹106 crore from ₹26 crore in the year-ago period. New business premium increased 20% year-on-year to ₹3,953 crore.
Bajaj Finserv shares fell 3.55% on the BSE to ₹1,597 apiece, when the index fell 0.82%.
