Bajaj Finserv Q4 Results: Profit Jumps 14%
The company also announced a dividend of Re 1 per share.
Bajaj Finserv Ltd. reported on Tuesday that its net profit in its fourth quarter of financial year 2024-25 rose 14% year-on-year to Rs 2,416.6 crore.
In comparison, the company's profit in the similar period in the previous fiscal stood at Rs 2,118.5 crore, according to the company's earnings release.
The financial services firm's total income for the quarter under review rose 14% to Rs 36,596.4 crore compared to Rs 32,042 crore in the year-ago period.
The company has earned a net interest income of Rs 11,551 crore for the March quarter, an increase of 22%. In Q4 FY24, its NII stood at Rs 9,496 crore.
The company also announced a dividend of Re 1 per share.
Meanwhile, the gross written premium in the company's insurance business showed mixed results.
Its life insurance gross written premium grew 13% to Rs 9,237.1 crore versus Rs 8,183.5 crore. However, the general insurance division's business declined 13% to Rs 4,325.5 crore versus Rs 4,962 crore.
On Tuesday, the board's compensation committee had met, whereby the approval to grant stock options to eligible employees under the Bajaj Finserv Ltd. Employee Stock Option Scheme was taken.
The company will grant a total of 43,70,453 options, which will be exercisable within five years from the respective date of vesting, the regulatory filing has stated.
The options have been granted at the market price as defined under SEBI Regulations, 2021 at the rate of Rs. 2,049.70 per option.
This was the closing price of the company's shares on the National Stock Exchange, which witnessed the highest trading volume of the company's shares the day prior to the date of the meeting — April 28.
Shares of Bajaj Finserv closed 0.79% higher at Rs 2.065 apiece on the BSE, compared to a 0.09% advance in the benchmark Sensex. The company had shared its financial results after the stock markets closed for Tuesday.
