Bajaj Finserv’s board has advisable a dividend of Rs 0.80 per share or 80 per cent on face worth of Re 1.
Bajaj Finserv’s complete consolidated earnings in the course of the March 2023 quarter elevated to Rs 23,625 crore, as in opposition to Rs 18,862 crore within the corresponding interval of the earlier monetary yr
Bajaj Finserv Ltd (BFL) on Wednesday reported a 31 per cent soar in its consolidated internet revenue at Rs 1,769 crore for the fourth quarter led to March 2023. The firm had posted a internet revenue of Rs 1,346 crore in the course of the corresponding January-March interval of 2021-22.
The complete consolidated earnings in the course of the March 2023 quarter elevated to Rs 23,625 crore, as in opposition to Rs 18,862 crore within the corresponding interval of the earlier monetary yr, BFL, the holding firm for the varied monetary providers companies underneath the Bajaj group, mentioned in a regulatory submitting.
The board advisable a dividend of Rs 0.80 per share or 80 per cent on face worth of Re 1. The complete quantity of dividends is Rs 127.43 crore as in contrast to Rs 63.65 crore.
For the monetary yr 2022-23, the corporate witnessed 41 per cent improve in revenue at Rs 6,417 crore, as in opposition to Rs 4,557 crore within the earlier fiscal.
The complete consolidated earnings rose to Rs 82,072 crore, as in opposition to Rs 68,439 crore within the earlier monetary yr.
“With Covid-19 menace having waned, there was important improve in autos on the street and non-Covid remedies which had been postponed earlier, leading to greater frequency of claims for the final insurance coverage sector. In this setting of upper rates of interest and insurance coverage claims, our corporations continued to do properly,” it said.
During the year, the general insurance arm posted a profit of Rs 1,348 crore, as against Rs 1,339 crore in the previous fiscal. As on March 31, 2023, solvency ratio was 391 per cent, which is well above the minimum regulatory requirement of 150 per cent.
The life insurance arm reported a net new business value (NBV) of Rs 950 crore, as against Rs 621 crore in the previous year.
Read all of the Latest Business News, Tax News and Stock Market Updates right here
(This story has not been edited by News18 workers and is printed from a syndicated information company feed)
