Bajaj Finance FY20 results: Profit jumps 32% to Rs 5\,264 crore\, NII up 42%

Bajaj Finance FY20 results: Profit jumps 32% to Rs 5,264 crore, NII up 42%

Bajaj Finance results: For the fourth quarter ended March 31, 2020, the NBFC major reported a 19.38 per cent decline in net profit at Rs 948.10 crore against Rs 1,176 crore in the corresponding period last fiscal

Bajaj Finance's board has not recommended any final dividend

Bajaj Finance, a subsidiary of Bajaj Finserv, on Tuesday reported a 32 per cent growth in consolidated net profit at Rs 5,264 crore for the full financial year ended March 31, 2020. The non-banking financial company (NBFC) had posted a consolidated net profit of Rs 3,995 crore in the previous financial year, Bajaj Finance said in a filing to the Bombay Stock Exchange.

Net Interest Income for FY20 was up by 42 per cent to Rs 16,913 crore from Rs 11,877 crore in FY19.

For the fourth quarter ended March 31, 2020 (Q4 FY20), the NBFC major reported a 19.38 per cent decline in net profit at Rs 948.10 crore against Rs 1,176 crore in the corresponding period last fiscal.

Revenue from operations stood at Rs 6,302 crore in Q4 FY20 as compared to Rs 5,307.66 crore in the same period last year.

For FY20, new loans booked increased by 17 per cent to 2.74 crore from 2.35 crore in FY19. New loans booked during March quarter increased by 3 per cent YoY to Rs 60.3 lakh.

"Adjusted for lower acquisition due to lockdown, new loans acquisition would have grown by 21 per cent to approximately 2.84 crore," Bajaj Finance said.

Customer franchise increased by 24 per cent to 4.2.6 crore on 31 March 2020 from 3.45 crore on 31 March 2019.

Bajaj Finance's board has not recommended any final dividend. The interim dividend of Rs 10 per equity share of the face value of Rs 2 (500%) declared by its board, at its meeting held on 21 February 2020, will be considered as the final dividend forthe FY20, it said. Thus, the total dividend for FY20 remains Rs 10 per equity share (previous year Rs 6 per equity share).