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Bajaj Finance on Tuesday posted a 19.40 per cent year-on-year (YoY) fall in consolidated net profit at Rs 962.32 crore for the quarter ended June 30. It had posted a net profit of Rs 1,195.25 crore in the corresponding quarter last year. During the quarter, the company made an additional contingency provision for Covid-19 of Rs 1,450 crore taking the overall contingency provision for Covid to Rs 2,350 crore as of 30 June 2020.
“You don’t need to do switches every month. A lot of people buy options today and sell that tomorrow. That is pure trading and that is not part of what is what I consider as the switching framework. If you have to make money, you have to book profits after an asset class has outperformed significantly,” says S Naren, chief investment officer of ICICI Prudential Mutual Fund.