Money & Banking

Bajaj Finance Q2 net up 36.5%

Our Bureau Mumbai | Updated on January 08, 2018 Published on October 16, 2017

Bajaj Finance Ltd has reported a 36.5 per cent jump in second quarter standalone net profit at Rs 557 crore against Rs 408 crore in the year-ago period.

Revenue from operations was up 32 per cent year-on-year (yoy) at Rs 3,086 crore in the reporting quarter. Other income jumped about three times to Rs 16 crore. Finance cost increased by 20 per cent yoy to Rs 1,144 crore. Other expenses rose 42 per cent yoy to Rs 515 crore.

Assets under management (comprising lending to consumers, SMEs, commercial, and rural segment) in the reporting quarter increased by 38 per cent yoy to Rs 72,139 crore. Loan losses and provisions were up 38 per cent yoy at Rs 228 crore.

Gross NPA and Net NPA as of September-end 2017 stood at 1.68 per cent and 0.51 per cent, respectively. Comparable Gross and Net NPA on four months overdue stood at 1.44 per cent and 0.40 per cent, respectively against 1.58 per cent and 0.43 per cent, respectively as of September-end 2016.

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Published on October 16, 2017
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