Bajaj Finserv Q3 Review – Gradual revival of finance; Insurance selection rate: ICICI Direct
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Bajaj Finserv Ltd. reported a gradual recovery in credit business, while insurance business continued to perform well, although the sequential execution rate moderated.
Consolidated revenue stood at 9.6% year-on-year at Rs 15,960 crore, traction improved sequentially but still lower on an annual basis, due to moderation in lending activity.
Led by improved after-tax profit in the insurance industry, consolidated profit increased 14.6% year-on-year to Rs 1,290 crore.
Consolidated assets under management saw QoQ growth of 4% year-on-year to Rs 143,550 crore, down 1% year-on-year.
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