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Bajaj Finance has posted a net profit of ₹258.4 crore for the third quarter ended December 31, 2014 against ₹194 crore in the same quarter of 2013, a growth of 33 per cent year-on-year.
Total income for the Pune-based company has increased to ₹1,485 crore from ₹1,082 crore during the quarter.
During the quarter, Bajaj Finance posted a 37 per cent rise in assets under management at ₹30,822 crore against ₹22,461 crore.
The SME segment accounted for ₹17,051 crore - nearly 55 per cent of all AUM. The segment has seen 46 per cent growth YoY, the commercial segment dropped by 7 per cent while the rural segment zoomed by a whopping 682 per cent to ₹235 crore (₹30 crore). “At the lending level, the balance sheet comes from SMEs, while profitability comes from consumer business,” Rajeev Jain, CEO, Bajaj Finance, said.
The rural business is currently consumer driven and accounts for one per cent of the balance sheet, but Bajaj Financeplans to take it to 10-12 per cent in the next five years, he added.
“We plan to support this with MSME rural business in Q1 FY16, and having built the railroad, it is easier to put other businesses on it,” Jain said.
In the three-month period, Bajaj Finance acquired 1,532 new customers (962 same period last year), and its gross NPAs stood at 1.5 per cent.
During intraday trades on the BSE, the scrip spurted 18.6 per cent (₹649) to touch a 52-week high of ₹4,130.95 before closing at ₹3,765.75 a share.
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