Bajaj Finserv shares gain over 3 pc as Q1 profit jumps

Shares of Bajaj Finserv on Wednesday rose over 3 per cent after the company reported a 44 per cent rise in consolidated net profit in the first quarter ended June of the current fiscal year.

Shares of Bajaj Finserv on Wednesday rose over 3 percent after the company reported a 44 percent rise in consolidated net profit in the first quarter ended June of the current fiscal year. The stock gained 3.56 percent to Rs 6,609 on the BSE.

On the NSE, it went up by 3.36 percent to Rs 6,599. Bajaj Finserv on Tuesday reported a 44 percent rise in consolidated net profit to Rs 1,215 crore in the first quarter ended June of the current fiscal year, mainly on the back of good earnings from its insurance subsidiaries. The Bajaj Group company's financial services arm had posted a net profit of Rs 845 crore during the corresponding June quarter of 2019-20.

Consolidated total income rose 16 percent to Rs 14,192 crore in the quarter under review from Rs 12,272 crore in the same quarter a year ago, Bajaj Finserv said.