Bajaj Finserv Ltd (BFL) on Wednesday reported over four-fold bounce in its consolidated internet revenue to Rs 979 crore for the fourth quarter led to March 2021, pushed by its insurance coverage enterprise. The firm had posted a internet revenue of Rs 194 crore throughout the corresponding January-March interval of 2019-20.
The whole consolidated revenue throughout the March 2021 quarter elevated to Rs 15,387 crore as towards Rs 13,294 crore within the corresponding interval of the earlier monetary 12 months, BFL mentioned in a regulatory submitting. The board has really useful a dividend of three per share or 60 p.c on the face worth of Rs 5 per unit.
The revenue after tax in 2020-21 rose to Rs 4,470 crore from Rs 3,369 crore within the year-ago interval, it mentioned. The firm’s consolidated whole revenue was at a document of Rs 60,591 crore in 2020-21 in comparison with Rs 54,351 crore in 2019-20.
The firm’s subsidiary Bajaj Allianz General Insurance Company recorded an all-time excessive annual revenue and continued to ship strong enchancment in its underwriting end result, it mentioned. During the 12 months, the overall insurance coverage arm posted a revenue of Rs 1,330 crore as towards Rs 999 crore within the earlier fiscal.
Similarly, life insurance coverage arm registered an all-time excessive annual gross written premium in FY21 at Rs 12,025 crore. Its Assets Under Management reached an all-time excessive stage of Rs 73,773 crore at year-end, it mentioned. ”As a end result, Bajaj Finserv had passable revenue development on a consolidated foundation, in an especially demanding 12 months,” it mentioned.
It is troublesome to foretell how lengthy this second wave will final and with what depth; and when will it subside to manageable ranges, it mentioned, including, danger of that is anticipated to stay elevated in Q1 and Q2 of FY22. ”With robust solvency, nicely above the required capital supported by wholesome liquidity, continued give attention to danger and collections, digitised processes and improved value buildings, we’re in a greater form than we had been final 12 months to face any antagonistic occasion,” it mentioned.
BFL holds 52.82 p.c in Bajaj Finance Ltd. It additionally has 74 p.c holding in unlisted subsidiaries, Bajaj Allianz General Insurance Company Ltd and Bajaj Allianz Life Insurance Co Ltd.
