New Delhi, Feb. 4 -- Bajaj Finserv announced its December-quarter results on Wednesday, February 4, reporting a consolidated net profit of Rs.2,229 crore. In the same period last year, the company had posted a net profit of Rs.2,231 crore.

Net profit during the quarter was impacted by higher provisions, including an accelerated expected credit loss (ECL) charge of Rs.1,406 crore and a one-time gratuity-related expense of Rs.379 crore arising from the implementation of new labour codes.

The net impact on Bajaj Finserv's consolidated profit was Rs.540 crore from the accelerated ECL provision and around Rs.167 crore due to the new labour codes, according to compnay's earnings' report.

Excluding the impact of these two items, consolidated ...