Comments
Propelled by a robust growth in loans to rural, commercial and consumer segments, Bajaj Finance has reported a 54 per cent jump in net profit at Rs 424 crore in the first quarter ended June 30, 2016 against Rs 276 crore in the year-ago period.
Net interest income was up 45 per cent at Rs 1,418 crore (Rs 979 crore in the year-ago quarter). Interest and fee income increased by 39 per cent to Rs 2,301 crore (Rs 1,656 crore)
The improved profitability comes despite a 75 per cent jump in loan loss provisions of Rs 180 crore (Rs 103 crore).
Assets under management (AUM) as of 30 June 2016 was up 40 per cent at Rs 49,608 crore against Rs 35,557 crore as of June 30, 2015.
The company shares were trading higher by 9.68 per cent at Rs 9,847.35 on the BSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.