New Delhi, Apr 28 (PTI) Shares of Bajaj Finserv Ltd (BFL) on Wednesday gained 4 per cent after the company reported over four-fold jump in its consolidated net profit for the fourth quarter ended in March 2021.

The stock jumped 4.03 per cent to close at Rs 10,491.65 on the BSE. During the day, it rallied 5.25 per cent to Rs 10,615.95 -- its 52-week high.

On the NSE, it gained 3.94 per cent to Rs 10,489.30.

Bajaj Finserv Ltd (BFL) on Wednesday reported an over four-fold jump in its consolidated net profit to Rs 979 crore for the fourth quarter ended in March 2021, driven by its insurance business.

The company had posted a net profit of Rs 194 crore during the corresponding January-March period of 2019-20.

The total consolidated income during the March 2021 quarter increased to Rs 15,387 crore as against Rs 13,294 crore in the corresponding period of the previous financial year, BFL said in a regulatory filing.

The board has recommended a dividend of 3 per share or 60 per cent on the face value of Rs 5 per unit.

The profit after tax in 2020-21 rose to Rs 4,470 crore from Rs 3,369 crore in the year-ago period, it said.

The company's consolidated total income was at a record of Rs 60,591 crore in 2020-21 compared to Rs 54,351 crore in 2019-20.

The company's subsidiary Bajaj Allianz General Insurance Company recorded an all-time high annual profit and continued to deliver robust improvement in its underwriting result, it said.

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