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Bajaj Finance Q2 consolidated net profit jumps 53% to Rs 1,481 crore

Interest income grew by 16 per cent to Rs 6,687 crore from Rs 5,763 crore

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Bajaj Finance | Q2 results

Press Trust of India  |  New Delhi 

Bajaj Finance Q2 consolidated net profit jumps 53% to Rs 1,481 crore
Interest income grew by 16 per cent to Rs 6,687 crore from Rs 5,763 crore

has reported a 53 per cent jump in consolidated net profit at Rs 1,481 crore for the quarter ended September on healthy interest income.

The non-banking finance company had posted a net profit of Rs 965 crore in the same quarter of the previous fiscal.

Total income rose by 19 per cent to Rs 7,732 crore during the July-September period of 2021-22, as against Rs 6,520 crore in the same quarter of FY21, said in a release.

Interest income grew by 16 per cent to Rs 6,687 crore from Rs 5,763 crore.

said it registered a 75 per cent jump in the number of new loans booked in the September quarter at 63.30 lakh as against 36.20 lakh in the year-ago period.

The company's asset under management (AUM) as of September 30, 2021 stood at Rs 1.67 lakh crore, up by 22 per cent from Rs 1.38 lakh crore earlier.

Customer franchise stood at 52.80 million (5.28 crore), compared to 44.11 million (4.41 crore) as of September 30, 2020, a growth of 20 per cent, it said.

The company's customer franchise increased by 2.35 million (23.5 lakh) in Q2 FY22 as compared to 1.16 million (11.6 lakh) in Q2 FY21.

Gross NPA (non-performing assets) and net NPAs stood at 2.45 per cent and 1.10 per cent, respectively, at the end of September 2021, as against 2.96 per cent and 1.46 per cent as of June 2021.

"The company had provisioning coverage ratio of 55 per cent on stage 3 assets (bad loans) and 155 bps (1.55 per cent) on stage 1 and stage 2 assets as of September 30, 2021," it said.

Stock of Bajaj Finance closed 2.68 per cent up at Rs 7849.15 apiece on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Tue, October 26 2021. 19:32 IST
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