Bajaj Finance Q1 net rises 43% YoY to a record Rs 1,195 crore; NBFC reports 69% spike in provisions

NEW DELHI: Bajaj Finance on Thursday said its consolidated net profit jumped 43 per cent year-on-year (YoY) to a record Rs 1,195 crore in June quarter.

The NBFC had reported a profit of Rs 836 crore in the same quarter last year.

The profit number came largely in line with ET Now poll estimate of Rs 1,200 crore. The number included results of Bajaj Finance’s wholly-owned subsidiaries Bajaj Housing Finance and Bajaj Financial Securities.


Net Interest income for for the quarter rose 43 per cent to Rs 3,695 crore from Rs 2,579 crore in the year-ago quarter.

Provisions for the quarter surged 69 per cent YoY to Rs 551 crore from Rs 327 crore posted in same qaurter last year.

Total assets under management (AUM) rose 41 per cen tto Rs 1,28,898 crore from Rs 91,287 crore in the year-ago quarter.

The scrip, which fell in a knee-jerk reaction to the results, soon recovered the lost ground and was trading 0.80 per cent higher at Rs 3,197 by 12.35 pm.