Bajaj Finserv Q4 net profit surges 37 per cent to Rs 1,346.1 crore
Apr 28, 2022
Mumbai (Maharashtra) [India], April 28 : Non-banking financial company Bajaj Finserv on Thursday reported a consolidated net profit of Rs 1,346.1 crore for the fourth quarter of 2021-22, registering a growth of 37.5 per cent year-on-year.
The company's consolidated total income surged to Rs 18,861.7 crore for the quarter ended March 2022 from Rs 15,387 crore recorded in the corresponding quarter of the previous year, registering a year-on-year growth of 22 per cent.
The Board of Directors of Bajaj Finserv at its meeting held on Thursday recommended a dividend of Rs 4 per share, or 80 per cent of the face value. The total amount of dividend is Rs 64 crore. In 2020-21 the company's total dividend stood at Rs 48 crore.
Business conditions improved significantly in Q4 of FY22 although they were volatile due to the outbreak of war in Ukraine. Although lower sales of automobiles due to supply chain problems affected the general insurance business, the overall environment was conducive and all our businesses recorded excellent growth, Bajaj Finserv said in a statement.
Bajaj Finserv recorded its highest ever assets under management and annual consolidated profit after tax in FY22.
Customer franchise stood at 57.57 million as of 31 March 2022 as compared to 48.57 million as of 31 March 2021 - an increase of 19 per cent. Customer franchise recorded the highest ever increase of 9.0 million in FY22.
