InvestorQ : What led to the significant underperformance by Bajaj Finserv in the Mar-20 quarter?
Dhwani Mehta made post

What led to the significant underperformance by Bajaj Finserv in the Mar-20 quarter?

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Khushi Patel answered.
9 months ago
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Bajaj Finserv reported 77% lower net profit for Mar-20 quarter at Rs.194 crore. Despite lower tax costs, the sharp fall in profits was due to contingency provisions for COVID-19. Bajaj Finserv is the holding company for various financial services businesses under the Bajaj group including financing and insurance. The insurance business had an unrealised MTM pre-tax loss of Rs.768 crore while Bajaj Finance made a pre-tax provision off Rs.900 crore. For the full fiscal year 2019-20, net profits were up by 4.7% at Rs.3369 crore while total revenues increased 27.6% to Rs.54,347 crore.

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