Bajaj Finance's Q1 standalone net down 3% on higher loan loss provisions

On a consolidated basis, its net profit was down 4% to Rs 1,002 cr

Consumer financier Bajaj Finance reported a 3 per cent decline in net profit on a standalone basis in the April-June quarter of FY22 compared to the same period a year ago due to higher loan loss provisions.  

In Q1FY22, it posted a net profit of Rs 843 crore as against Rs 870 crore in Q1FY21. However, on a consolidated basis, its net profit was up 4 per cent to Rs 1,002 crore in Q1FY22 compared to Rs 962 crore in the year-ago period. 

Loan loss provisions of the lender rose 5 per cent to Rs 1,741 crore in the reporting