Money & Banking

Bajaj Finance Q4 net up 52% on strong lending

Satyanarayan Iyer Mumbai | Updated on March 12, 2018

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Bajaj Finance posted a 52 per cent increase in its fourth quarter net profit aided by higher loan volumes and strong credit performance in the consumer and SME (small and medium enterprise) financing businesses.

The Pune-based non-banking finance company’s net profit in January-March 2013 increased to Rs 164 crore from Rs 108 crore, a year ago.

The company’s assets under management (AUM) in the consumer and SME businesses increased 42 per cent and 49 per cent, respectively, to Rs 7,070 crore and Rs 8,467 crore.

The commercial business segment, which includes the company’s financing to infrastructure, construction equipment and auto-components witnessed a slowdown during the quarter and the full year.

Total income from operations was up 34 per cent at Rs 832 crore.

Net interest income during the reporting quarter increased 33 per cent to Rs 517 crore.

For the financial year 2012-13, the NBFC earned a net profit of Rs 591 crore, up 46 per cent compared to the previous year.

“In the first quarter, we expect the AUM and profit to grow in 20-25 per cent,” Rajeev Jain, Chief Executive Officer, said.

The company’s board has recommended a dividend of Rs 15 per share.

Shares of Bajaj Finance closed at a new high of Rs 1399.95, up 1.45 per cent on the Bombay Stock Exchange.

satyanarayan.iyer@thehindu.co.in

Published on May 15, 2013

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