Bajaj Finserv Notches Up Gains In June Quarter
DSIJ Intelligence / 18 Jul 2013
Its gross revenues have gone up in Q1FY14, as has its bottomline. The healthy performance of its businesses Bajaj Finance, Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance has helped the company make good profits.
The results press release of Bajaj Finserv states that the challenging environment that has prevailed in the last fiscal continues till now. But the results of the company belie this fact, as the company has fared very well for the first quarter of fiscal 2014.
On a consolidated basis, its gross revenues for Q1FY14 went up by 7% on a YoY basis and came in at Rs 3465 crore as against Rs 3252 crore for the same quarter last fiscal. The bottomline also improved by a stupendous 43% on a yearly basis to stand at Rs 279 crore as against that of Rs 195 crore in Q1FY13. All the businesses of the company including Bajaj Finance, Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance have contributed to the bottomline.
The PAT of Bajaj Finance, Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance came in at Rs 176 crore (up 27%), Rs 100 crore (up 56%) and Rs 115 crore (up 55%). This has added up to make for some strong profits for the company.
The performance of the company makes a persuasive case in favour of adding this stock to one’s portfolio. However, looking at the volatile state of the market, it is advisable to buy in a staggered manner.
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