Bajaj Finance's consolidated net profit rises 43% in June quarter
Major business lender Bajaj Finance on Thursday reported 43 percent increase year-on-year (YoY) in the consolidated net profit. The company's net profit for the June quarter stood at Rs 1,195 crore as against Rs 836 crore in the corresponding quarter last year.
Net interest income during the quarter was up 43 percent YoY to Rs 3,695 crore from Rs 2,579 crore in Q1FY19. Loans, losses and provisions for Q1FY20 were up 69 percent to Rs 542 crore from Rs 321 crore in Q1FY19.
Net NPA during the quarter climbed 0.64 percent as against 0.63 percent last quarter. Total slippages were at Rs 702 crore as against Rs 607 crore QoQ.
Consolidated assets under management (AUM) for the June quarter were at Rs 1,28,898 crore compared to Rs 91,287 crore, a rise of 41 percent YoY.
Capital adequacy ratio as of June 30, 2019, stood at 23.17 percent. The company saw 60 percent lending coming through the rural segment.
Intraday, the stock declined 3.18 percent to its day's low at Rs 3,072.55 per share on the NSE.
First Published: Jul 25, 2019 12:46 PM IST
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