Bajaj Finance Limited (BFL) has posted a profit after tax of Rs 8.36 billion at the end of the first quarter of FY2019, up by 81 per cent from Rs 4.61 billion in the same quarter last year. The biggest growth comes from the company’s rural lending portfolio followed by the Consumer B2C segment.
New loan sanctioning is up by 49 per cent to 5.63 million in Q1 of FY2019, from 3.77 million in the corresponding period of last year.
Assets under Management (AUM) under both arms of the company, the non-banking financial company (BFL) and Bajaj Housing Finance Limited (BHFL), have grown by 35 per cent from Rs 689.5 billion in Q1 FY2018 to Rs 933.14 billion at the end of first quarter of FY2019.
BHFL added Rs 36.8 billion to its AUM in the quarter ended June 2018, bringing the total to Rs 72.72 billion. Total mortgage lending, including mortgages sanctioned by BHFL has grown to Rs 260.5 billion (AUM) at the end of Q1 of FY2019, up by 27 per cent, from Rs 205 billion in the same period of last year.
The rural lending portfolio has grown by 75 per cent in terms of AUM, from Rs 38.2 billion at the end of Q1 FY2018 to Rs 66.74 billion in Q1 of FY2019. The consumer B2C business has grown by 47 per cent with Rs 173.2 billion in AUMs while the consumer B2B segment has grown by 27 per cent to Rs 191.3 billion in AUMs, at the end of June 2018.
Commercial lending has grown by 32 per cent to Rs 120 billion for Q1 of FY2019, from Rs 91 billion in the same period of last year. The Small-Medium Enterprise lending book has grown by 42 per cent from Rs 85.7 billion in the first quarter of last fiscal to Rs 121.3 billion at the end of the quarter-ended June 2018.
Net Interest Income for BFL has grown by 46 per cent, from Rs 17.61 billion at the end of Q1 of FY2018 to Rs 25.8 billion at the end of Q1 of FY2019.
Provisioning coverage ratio stands at 69 per cent, and has increased from Rs 3 billion in Q1 of FY2018 to Rs 3.27 billion at the end of June 2018.
Gross non-performing assets (NPA) stand at 1.39 per cent for Q1 of FY2019 as against 1.48 per cent in Q4 of FY2018, while net NPA rose to 0.44 per cent for Q1 of FY2018, from 0.38 per cent during the quarter-ended March 2018.