Bajaj Finance Q3 profit jumps 54% YoY to Rs 1,060 crore on 48% rise in revenue

Bajaj Finance on Tuesday reported 54 per cent jump in consolidated profit after tax at Rs 1,060 crore for the quarter ended December 31.

The NBFC had reported Rs 690 crore profit in the year-ago period.

Total income rose 48 per cent to Rs 4,995 crore from Rs 3,374 crore in the same quarter last year, the company said in a regulatory filing.


Loan losses and provisions for the quarter jumped to Rs 454 crore from Rs 278 crore a year ago.

Gross non-performing assets (NPA) and net NPA for the quarter stood at 1.55 per cent and 0.62 per cent, respectively.

"The provisioning coverage ratio stood at 60 per cent. Standard assets provisioning was 88 basis points as per ECL (stage 1 & 2) provisioning under lnd-AS versus 40 basis points as per RBI prudential norms," the NBFC said.

Despite tough liquidity environment, the company said, it added receivables worth Rs 9,867 crore, the highest ever quarterly rise in loan receivables.

At 2.41 pm, shares of Bajaj Finance were trading 0.24 per cent higher at Rs 2,462 on the BSE.