Bajaj Finance Q2: Net profit jumps 88% to ₹2,781 crore
1 min read . Updated: 20 Oct 2022, 04:30 PM IST
Premium- The net interest income surged 31 per cent to ₹7,001 crore from ₹5,337 crore
Bajaj Finance on Thursday reported an 88 per cent rise in net profit at ₹2,781 crore for the September quarter. The comply had reported net profit of ₹1,481 crore the same quarter last fiscal.
Sequentially, net profit jumped 7 percent from ₹2,596 crore.
Bajaj Finance has reported highest ever consolidated quarterly profit after tax, it said in an exchange filing.
The net interest income surged 31 per cent to ₹7,001 crore from ₹5,337 crore. While its assets under management grew 31 per cent to ₹218,366 crore in Q2, as against ₹166,937 crore in the corresponding quarter.
Gross NPA and Net NPA as of September-end stood at 1.17 percent and 0.44 percent respectively, as against 2.45 percent and 1.10 percent same quarter last year. Gross NPA and net NPA were 1.25 percent and 0.51 percent respectively as on June-end.
New loans booked grew by 7 per cent year-on-year to 67.6 lakh, the company said.
Bajaj Finance's loan losses and provisions for Q2 stood at ₹734 crore against ₹1,300 crore in the corresponding quarter last fiscal.
Bajaj Finance shares rose 0.69 per cent to close at ₹7,429.25 per share.
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