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Financial services provider, Bajaj Finance Ltd, reported a 52 per cent jump in net profit at Rs 108 crore in the January to March period against Rs 71 crore in the year-ago period.
According to the Chief Executive, Mr Rajeev Jain, robust growth in the consumer (consumer durables and two-wheeler finance) and SME business boosted profitability.
For the full-year ended March 31, 2012, net profit rose 64 per cent to Rs 406 crore (Rs 247 crore).
The board of directors has recommended a dividend of Rs 12 per share.
Provision to cover bad loans increased 5 per cent in the fourth quarter to Rs 40 crore and decreased 25 per cent to Rs 154 crore for the full year.
Net interest income for the quarter rose 39 per cent to Rs 389 crore (Rs 279 crore).
A break-up of the assets under management (of Rs 13,107 crore as of March-end 2012) shows that consumer durables accounted for 38 per cent of the total AUM; SME: 44 per cent; and commercial lending: 18 per cent.
“We expect 25 per cent growth in our assets under management in FY13,” said Mr Jain.
Shares of the Pune-based company closed at Rs 844.10, down 4.11 per cent on BSE.
satyanarayan.iyer@thehindu.co.in
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