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Bajaj Finance Q2 deposit book rises 22.5% YoY

Capital Market 

The NBFC said that its deposit book increased 22.5% to Rs 21,600 crore in Q2 September 2020 compared with Rs 17,633 crore in Q2 September 2019.

Customer franchise as of 30 September 2020 stood at 44.1 million, up by 13.95% from 38.7 million as of 30 September 2019. During the quarter, the company acquired 1.2 million new customers.

New loans booked during Q2 FY21, however, declined by 44.6% to 3.6 million as compared to 6.5 million in Q2 FY20.

Assets under management (AUM) stood at approximately Rs 137,300 crore at the end of the September 2020 quarter as compared to Rs 135,533 crore reported in the same period last year, registering a year-on-year growth of 1.3%.

The NBFC said it continues to remain well capitalized with capital adequacy ratio (CRAR) of approximately 26.5% as of 30 September 2020 while maintaining highest ever liquidity buffer.

The company's consolidated liquidity surplus stood at approximately Rs 22,300 crore as of 30 September 2020 and added that its liquidity position remains very strong.

"The company will continue to accelerate its provisioning for COVID-19 in Q2 FY21 as well to further strengthen its balance sheet, the lender said in a BSE filing made after market hours on Tuesday.

Shares of Bajaj Finance fell 4.18% to Rs 3329 on the BSE. The stock hit an high of Rs 3415 and low of Rs 3286 so far during the day.

The NBFC's consolidated net profit tumbled 20% to Rs 962.32 crore in Q1 June 2020 (Q1FY21) from Rs 1195.25 crore in Q1 June 2019 (Q1FY20). Total income jumped 14.5% to Rs 6649.74 crore in Q1FY21 as against Rs 5807.76 crore in the same period last year.

Bajaj Finance is engaged in lending and allied activities. It focuses on consumer lending, small and medium-sized enterprises (SME) lending, commercial lending, rural lending, fixed deposits and value-added services

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, October 07 2020. 09:20 IST