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Bajaj Fin reports 33% growth in Q3 profit, stock may remain range-bound

Growth was driven by net interest income (NII), which increased 42 per cent year-on-year (YoY) to Rs 4,537 crore in Q3FY20

Subrata Panda & Hamsini Karthik  |  Mumbai 

Bajaj Finance reported 33 per cent growth in its profit before tax (PBT) at Rs 2,170 crore in the December quarter of FY20, compared to Rs 1,636 crore in the same quarter last financial year (Q3 FY19). Growth was driven by net interest income (NII), which increased 42 per cent year-on-year (YoY) to Rs 4,537 crore in Q3FY20; total income expanded 41 per cent YoY to Rs 7,026 crore.

The shadow lender’s ability to rationalise cost also helped improve the quality of growth. For instance, in Q3, the operating expenses to NII ratio rose to 33.9 per cent, from 34.9 per cent in the year-ago ...

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First Published: Thu, January 30 2020. 00:59 IST
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