The Covid-19 pandemic and the strict lockdown hurt the group's business operations.
Bajaj Finance, Bajaj Finserv will announce their third quarter (ending December 31) results on Wednesday. Bajaj Finserv Ltd, a part of Bajaj Holdings & Investments Limited, is a financial services company focussed on lending, asset management, wealth management and insurance.
Shares of Bajaj Finance Limited was last trading on Bombay Stock Exchange (BSE) at Rs 4,970.60, up Rs 257 (or 6.73 per cent) as compared to the previous close.
Bajaj Finserv was last trading on BSE at Rs 8,915, up Rs 562.65 (or 6.73 per cent) compared with the previous close.
Bajaj Finserv reported an 18.06 per cent decline in consolidated net profit at Rs 986.29 crore for the quarter ended September 2020.
The company had reported a net profit of Rs 1,203.72 crore in the year-ago period.
Its total revenue from operations clocked at Rs 15,049.60 crore, 5.82 per cent higher from Rs 14,221.9 crore a year ago.
The Covid-19 pandemic and the strict lockdown imposed by the government hurt the group's business operations for the half year ended September 30, and is subsidiaries operating in the business of lending — Bajaj Finance, together with its subsidiary, Bajaj Housing Finance, the company said in a release.
