Bajaj Finance's Q2 profit up by 37% at Rs 557 cr

Net interest income up 41% to Rs 1,958 cr, total income up 33% to Rs 2,341 cr; gross NPAs improve marginally

Bajaj Finance, the lending subsidiary of Bajaj Finserv, has posted a heavy rise in profit in the quarter ended September on the back of rising net interest income (NII) and growth in assets under management (AUM) with new loans booked.

The non-banking finance company’s (NBFC) net profit during the quarter saw a 37 per cent rise to Rs  557 crore from Rs 408 crore in the same period for the previous year.

The NII for the quarter ended September increased 41 per cent, year on year, to Rs 1,958 crore from Rs 1,385 crore. Total income rose by to Rs