• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books
• Gallery

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai, May 20 Bajaj Finserv has reported a net profit of Rs 107 crore in the fourth quarter of 2008-09 against a net loss of Rs 21 crore in the corresponding period last year.

For the full year, the company registered a net profit of Rs 71 crore against a loss of Rs 33 crore in the previous fiscal, a company press release said.

The company’s life insurance venture, Bajaj Allianz Life Insurance, posted a net profit of Rs 45 crore in the just ended fiscal as against a loss of Rs 16 crore in 2007-08. The fresh business premium underwritten by the company registered a negative growth of 33 per cent at Rs 4,491 crore (Rs 6,674 crore) and the renewal premiums grew by 101 per cent to Rs 6,133 crore (Rs 3,051 crore).

The profit of the general insurance company, Bajaj Allianz General Insurance, fell to Rs 95 crore in 2008-09 against Rs 106 crore in the previous year.

The gross written premium grew 10 per cent to Rs 2,649 crore (Rs 2,404 crore).

The auto finance arm Bajaj Auto Finance reported a net profit of Rs 34 crore in FY 09 against Rs 20 crore in FY 08.

However, the company’s deployments fell 19 per cent to Rs 2,451 crore (Rs 3,036 crore) due to demand contraction and the result of pursuing cautious credit growth, the release said.

Copyright © 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line