21 hours Ago
New Delhi, Apr 30 (PTI) Shares of Bajaj Finserv Ltd (BFL) tanked nearly 6 per cent on Wednesday despite the firm reporting a 14 per cent increase in consolidated net profit at Rs 2,417 crore in the March quarter. The stock declined 5.45 per cent to settle at Rs 1,952.
40 each on the BSE. During the day, it tumbled 6.68 per cent to Rs 1,927.
On the NSE, it tanked 5.60 per cent to Rs 1,951. Intra-day, the stock dropped 6.
79 per cent to Rs 1,926.50 apiece. The company's market valuation eroded by Rs 17,978.
41 crore to Rs 3,11,732.31 crore. The stock was the biggest laggard among the Sensex and Nifty firms.
The company had posted a net profit of Rs 2,119 crore during the corresponding January-March period of FY24. The total consolidated income during the March 2025 quarter rose to Rs 35,596 crore, as against Rs 32,042 crore in the corresponding period of the previous financial year, BFL, the holding company for the various financial services businesses under the Bajaj group, said in a regulatory filing on Tuesday. The board recommended a dividend of Re 1 per share or 100 per cent on the face value of Re 1.
The proposed dividend is to be approved by the shareholders at the ensuing Annual General Meeting. For the financial year 2024-25, the company witnessed a 9 per cent increase in profit at Rs 8,872 crore, over Rs 8,148 crore in the previous fiscal. (This story has not been edited by THE WEEK and is auto-generated from PTI).
