Bajaj Finserv's Robust Growth: A Century in Business and Full Ownership Achieved

Bajaj Finserv reported a 5% increase in net profit for the March quarter, reaching Rs 2,539 crore. The company's revenues rose by 5.7% to Rs 38,508 crore. It achieved 100% ownership of its insurance subsidiaries by acquiring Allianz's stake. Bajaj Finserv's assets under management stood at Rs 7,05,800 crore.

Bajaj Finserv, a leading financial services firm, announced a 5% uptick in consolidated net profit, amounting to Rs 2,539 crore for the March quarter. This follows a net profit of Rs 2,417 crore in the same timeframe last year.

Accompanying this rise, the company's total revenues saw a 5.7% increase, reaching Rs 38,508 crore. Bajaj Finserv's board recommended a dividend payout, which includes a special Rs 0.20 contribution in celebration of the Bajaj Group's 100-year milestone.

Strategically positioned, Bajaj Finserv completed its acquisition of Allianz's 26% stake, thereby gaining full ownership of its insurance entities. The company's shares closed 1.27% lower at Rs 1,746.20 on the BSE.