The Financial services arm of Bajaj group, Bajaj Finserv posted boost in its net profit by 46 per cent for the third quarter which ended on December 31st, 2012 powered by increase of its life insurance, general insurance and financial services subsidiaries.
The Pune-based company reported a net profit of Rs 249 crore against last year's net profit of Rs 170 crore. The profit recorded after excluding minority interest in net income of subsidiaries.
Bajaj Finserv's general insurance business recorded a net profit for third quarter of Rs 91 crore which is 52 per cent more than the year ago period. The company also earned 23 per cent more premium in the third quarter of Rs 694 crore.
In the life insurance segment, the company's premium increased marginally to Rs 669 crore from Rs 653 a year ago.
The consolidated revenue of the company increased by 11 per cent to Rs 3724 crore and the income increased by 36 per cent to Rs 1120 crore.