Analysts in an ET NOW poll had projected a profit of Rs 1,073 crore.
By ETMarkets.com | Updated:
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NEW DELHI: Bajaj Finance on Thursday reported 57 per cent year-on-year (YoY) jump in consolidated profit at Rs 1,176 crore compared with Rs 748 crore in the same quarter last year.
Analysts in an ET NOW poll had projected a profit of Rs 1,073 crore.
The results included the numbers of Bajaj Finance's wholly-owned subsidiaries Bajaj Housing Finance Limited (BHFL) and Bajaj Financial Securities Limited (BFinsec).
The NBFC firm said its consolidated net interest income (NII) jumped 50 per cent to Rs 3,395 crore from Rs 2,265 crore on a yearly basis.
Loan losses and provisions for the quarter amounted to Rs 409 crore against Rs 227 crore.
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Gross NPAs and Net NPAs stood at 1.54 per cent and 0.63 per cent, respectively.
The provisioning coverage ratio stood at 60 per cent. Standard assets provisioning was 85 basis points under lnd-AS against 40 bps as per RBI and NHB prudential norms, the firm said.
Consolidated assets under management (AUM) rose 41 per cent to Rs 1,15,888 crore against Rs 82,422 crore.
New loans booked increased 53 per cent to 5.83 million from 3.80 million. Total operating expenses to net interest income stood at 34.58 per cent YoY against 39.47 per cent.
