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New Delhi, May 21 () <keyword id="168163" type="DOMAIN" weightage="20" keywordseo="Bajaj-Finserv-Ltd">Bajaj Finserv Ltd</keyword> (BFL) on Thursday reported a plunge of 77% in its consolidated net profit to ₹194 crore for the fourth quarter ended March 2020, mainly due to the COVID-19 impact on group companies. The company had posted a net profit of ₹839 crore during the corresponding January-March period of 2018-19. Excluding the COVID-19 impact, it said the net profit during the March quarter would have been ₹1,001 crore. Its total consolidated income during the March 2020 quarter, however, increased by a little over 2% to ₹13,294 crore as against ₹12,995 crore in the corresponding period of the previous financial year, BFL said in a release. On the yearly basis, the company said it has posted the highest-ever net profit as well as total income, adding that the profit is highest-ever for the sixth consecutive time. The profit after tax in 2019-20 rose to ₹3,369 crore, against ₹3,219 crore in the year-ago period, the company said. The consolidated profit after tax, excluding the COVID-19 impact, jumped to ₹4,176 crore from ₹3,219 crore, it added. The company's consolidated total income was at a record ₹54,351 crore in 2019-20 as compared to ₹42,606 crore in 2018-19. "Even without the terrible effects of the COVID-19 pandemic, India's GDP (gross domestic product) growth had shown clear signs of slowing down," BFL said. Due to lockdown and subsequent moratorium on loan instalments, performance of banks and non-banking financial companies (NBFCs) were impacted in March, it said adding that standstill in new car sales and grace period to customers on premium payment equally impacted the life and general insurance sectors. Despite these challenges, the company has been able to record its highest-ever annual consolidated total income and profit after tax, BFL said in the release. Under the Ind-AS (Indian Accounting Standards), the insurance subsidiaries have chosen to hold equity securities as fair value through profit and loss account and, therefore, the insurance companies had an unrealised mark-to-market (MTM) pre-tax loss of ₹768 crore in the consolidated financials, the company added. "Additionally, BFL made a pre-tax provision of ₹900 crore in the form of contingency provision on account of the impact of COVID-19," it said. The MTM adjustment and the contingency provision, together considered as COVID-19 impact, after adjusting for tax and the company's interest in those subsidiaries have impacted consolidated profit after tax of BFL for the fourth quarter and 2019-20 by ₹807 crore, it added. The holding company of the financial services of the Bajaj group said it had declared an interim dividend of ₹5 per equity share (100%) on February 21 and paid on March 9. The said amount has been declared as final dividend for 2019-20. BFS holds 52.82% in <keyword id="437308" type="COMPANY" weightage="20" keywordseo="Bajaj-Finance-Ltd-">Bajaj Finance Ltd.</keyword> It also has 74% holding in unlisted subsidiaries, Bajaj Allianz General Insurance Company Ltd and Bajaj Allianz Life Insurance Co Ltd. Shares of <keyword id="85462" type="COMPANY" weightage="20" keywordseo="Bajaj-FinServ">Bajaj Finserv</keyword> on Thursday closed 3.64% down at ₹4,537.75 on the BSE.

Bajaj Finserv net profit plunges 77% to ₹194 crore in March 2020 quarter

<keyword id="85462" type="General" weightage="100" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword> Ltd, the holding company for the Bajaj group's financial services companies -- on Friday said it had logged an after tax profit of Rs 754.34 crore for the quarter ended September 30. The company's net profit has jumped 24% year-on-year. In a regulatory filing, the company said for the second quarter that ended September 30, it has earned a total income of Rs 1,019.07 crore (Q2FY23: Rs 689.42 crore) and a net profit of Rs 754.34 crore (Q2FY23: Rs 485.08 crore). The company's consolidated total income of the company rose 25% on-year to Rs 26,023 crore, from Rs 20,803 crore in a year ago period. During the period under review, Bajaj Finserv has booked a dividend income of Rs 953.45 crore up from Rs 635.64 crore booked during the previous year corresponding period. <h2 style="margin-bottom: 35px; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-variant-position: normal; font-weight: 400; font-stretch: normal; font-size: 20px; line-height: 28px; font-family: Lora, sans-serif; color: rgb(47, 47, 47); background-color: rgb(255, 255, 255);"> </h2>The company is the holding company for Bajaj Finance Ltd, Bajaj Allianz General Insurance Company Ltd, Bajaj Allianz Life Insurance Company Ltd and others. Bajaj Finserv's scrip after opening at Rs 1,570 on Friday touched a high of Rs 1,593.55 and is changing hands for about Rs 1,583.

Bajaj Finserv Q2 net profit rises 24%, revenue up 25%

<ul><li>The 30-share index was trading 1.22% higher, and the NSE Nifty rose 128.45 points at 9:55 am.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices, Sensex rallied over 450 points in early trade on Thursday, driven by gains in index-heavyweights HDFC, Reliance Industries and ICICI Bank amid positive cues from US equities. The 30-share index was trading 1.22% higher, and the NSE Nifty rose 128.45 points at 9:55 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv Ltd. </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td></tr></tbody></table>*as of October 1, 10:00 am These are the top stocks in news today. <keyword id="799" type="CITY" weightage="20" keywordseo="PVR">PVR</keyword> and <keyword id="105311" type="COMPANY" weightage="20" keywordseo="INOX-Leisure">INOX Leisure</keyword> surge led by Unlock 5.0 boost The shares of cinema giants PVR and INOX Leisure surged over 11% during the early trade hours on Thursday. The rally was driven by the government decision of reopening cinema halls from October 15 as part of its<a href="https://www.businessinsider.in/india/news/central-government-unlock-5-0-guidelines-cinema-halls-schools-colleges-swimming-pools-can-open-again-with-some-conditions/articleshow/78419665.cms"> Unlock 5.0 guidelines</a>. Reliance Industries (<keyword id="6484187" type="COMPANY" weightage="20" keywordseo="ril">RIL</keyword>) open 2% higher The shares of Mukesh Ambani owned Reliance Industries (RIL) soared 2% after the company raised another <a href="https://www.businessinsider.in/business/news/reliance-retail-raises-another-1875-crore-as-silver-lake-comes-back-with-an-additional-investment/articleshow/78412992.cms">₹1,875 crore from Silver Lake co-investors.</a> <keyword id="6354737" type="CITY" weightage="20" keywordseo="ONGC">ONGC</keyword> and Oil India trade in red The shares of natural gas giants Oil and Natural Gas Corp and Oil India were trading in red after the Indian government slashed the rate by 25% to $1.79 for the period of October 2020 to March 2021. This is the price at which most of the natural gas produced in India is sold. <keyword id="6359783" type="ORGANIZATION" weightage="20" keywordseo="bajaj-auto">Bajaj Auto</keyword> jumps 5% post September sales numbers The shares of auto manufacturer Bajaj Auto jumped 5% after it recorded stellar growth of 10% in its overall sales. The <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/c6a2166b-2617-4f6f-b594-7677d3b0d441.pdf">company </a>said it recorded the highest ever sales in its export segment with a year-on-year growth of 14%. KEC International gains 2% The shares of KEC International gained 2% after the construction firm announced that it had bagged multiple orders worth ₹1,033 crore across business segments. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/isro-to-launch-venus-mission-in-2025/articleshow/78420140.cms">ISRO to carry first-ever French payload abroad Venus mission scheduled for 2025</a>

Top stock movers — RIL, PVR, Bajaj Auto, INOX Leisure, ONGC, Oil India and more

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Bajaj Finserv net profit plunges 77% to ₹194 crore in March 2020 quarter

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Bajaj Finserv Q2 net profit rises 24%, revenue up 25%

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Top stock movers — RIL, PVR, Bajaj Auto, INOX Leisure, ONGC, Oil India and more

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