Bajaj Finserv Q3 profit rises 22% to ₹2,158 crore

New Delhi, Bajaj Finserv on Tuesday reported a 22 per cent increase in consolidated net profit to Rs 2,158 crore for the December quarter. The diversified financial services group had earned a net profit of Rs 1,782 crore in the year-ago period.

The company's total income increased to Rs 29,038 crore in the third quarter of the ongoing fiscal from Rs 21.755 crore in the year-ago period, Bajaj Finserv said in a regulatory filing.

Interest income during the quarter increased to Rs 13,922 crore as against Rs 10,430 crore in the same period a year ago.

Total expenses also moved up to Rs 23,609 crore from Rs 17,336 crore in the same quarter a year ago.

During the quarter, its subsidiary Bajaj Allianz Life Insurance Company posted shareholders' profit at Rs 108 crore from Rs 81 crore, registering an increase of 33 per cent.

Non-life arm Bajaj Allianz General Insurance profit remained flat at Rs 281 crore as compared to Rs 278 crore in the year-ago period.