Bajaj Finserv net profit up by Rs 555 crore

Bajaj Finserv net profit up by Rs 555 croreBajaj Finserv has declared its annual financial results for the year 2010. Its consolidated net profit was found out to be Rs 554.53 crore for the year that ended on 31st March, 2010. It was Rs 71.31 crore for the preceding year. The total income of the company has gone up to Rs 985.41 crore this years.

Last year it was reported to be Rs 385.30 crore. Bajaj Allianz Life Insurance has managed to report a net profit of Rs 542 crore. Last year there was a loss of Rs 71 crore for the company. For the first time it has made registered a profit. As per the company top officials, the company has managed to post a remarkable net profit this time due to its low-cost model and use of certain technologies.

The company has also announced to come up with certain new products and services in this fiscal year for its customers. Bajaj Finserv is coming up with its wealth management services in the month of September this year.