When choosing between two evils, I always like to try the one I've never tried before.

-- Mae West

BajajFinserv Q1 profit doubles to Rs 128.73 cr

By PTI Jul 13 2011 , New Delhi

Financial services provider Bajaj Finserv today reported a jump of 94.8 per cent in

its net profit at Rs 128.73 crore for the quarter ended June, 2011 due to growth in its insurance and lending businesses.

The company had reported a net profit of Rs 66.08 crore in April-June quarter of last year.

Bajaj Finserv's total income grew five-fold to Rs 612.64 crore during the first quarter of the current fiscal, against Rs 123.91 crore in the year-ago period, it said in a filing to the Bombay Stock Exchange (BSE).

As per the filing, company recorded growth in its businesses including insurance segment and lending arms.

Meanwhile, Board of Bajaj Finance approved the issuance of 60 lakh warrants on preferential basis to Bajaj Finserv at an issue price of Rs 651 per warrant.

Shares of the company closed up 4.48 per cent at Rs 539.90 on the BSE

0 commentsPost your Comment

Post new comment

EDITORIAL OF THE DAY

Slippery ground
Policymakers are committing a blunder by delaying free pricing of oil
The government’s decision to hike petrol prices can at best be called a half-hearted attempt at expressing concerns about the deteriorating fiscal h

more...

PREVIOUS EDITORIALS

Financial Chronicle on Facebook