Bajaj Finance Q1 Results: Net profit surges 43%
1 min read . Updated: 25 Jul 2019, 01:55 PM IST- Gross NPA, a measure of asset quality, rose slightly as compared to the March quarter
- Assets under management increased 41% year on year
NEW DELHI: Bajaj Finance today posted a 43% increase in net profit for the June quarter, driven by a jump in assets under management. Shares were volatile after the results were announced and traded 4% lower in afternoon trade. Bajaj Finance Q1 profit increased to ₹1,195 crore as compared to ₹836 crore in the year-earlier period. Assets under management rose 41% to ₹128,898 crore against ₹91,287 crore in the same quarter of the previous quarter.
New loans booked during Q1 FY20 increased by 29% to 7.27 million from 5.63 million. Gross NPA and net NPA, measures of asset quality, increased marginally quarter on quarter.
Other highlights from Bajaj Finance's Q1 results:
Net Interest Income for Q1 FY20 was up by 43% to ₹3,695 crore from ₹2,579 crore in 01 FY19.
Total operating expenses to net interest income for Q1 FY20 was 34.98% against 37.02% in 01 FY19.
Gross NPA and net NPA as of 30 June 2019 stood at 1.60% and 0.64% respectively of total advances, as against 1.54% and 0.63% as of 31 March 2019.
The provisioning coverage ratio as of 30 June 2019 was 61%
Capital adequacy ratio (including Tier-11 capital) as of 30 June 2019 stood at 19.48%. The Tier-1 capital stood at 15.48%
