Business Standard

Despite tough operating climate, Bajaj Finance's Q3 net profit jumps 54%

With concerns on funding costs put to rest, Bajaj Finance stocks rose over 2 per cent on Tuesday

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Hamsini Karthik Mumbai
At a time when the market conditions are just not conducive for non-banking financial companies, Bajaj Finance seems to stand out. Its net interest income (NII) grew 46 per cent in the December quarter (Q3), and net profit expanded by 54 per cent to Rs 1,060 crore. Aided by a late push in festive season demand, consolidated assets under management (AUMs) grew by 41 per cent year-on-year in Q3. This allowed results to exceed expectations on all parameters.  

More importantly, cost of funds rose by only six basis points (bps) sequentially, to 8.2 per cent, and net interest margin was

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First Published: Jan 29 2019 | 11:17 PM IST

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