Bajaj Finserv Posts 27% Decline In March Quarter Profit

Mumbai: Bajaj Finserv, the holding company of Sanjiv Bajaj Group's financial services arm, on Tuesday reported a 27 per cent fall in consolidated net profit at Rs 518 crore for the March quarter, primarily because of changes in regulatory norms. The changes in the regulatory norms mandate life insurers to transfer policyholders' profit to shareholders. As a result, net of its life insurance vertical - Bajaj Allianz - also plunged 5...