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Bajaj Finance reports highest ever consolidated net profit with a 88% jump

Bajaj Finance reports highest ever consolidated net profit with a 88% jump

Bajaj Finance reports highest ever consolidated net profit with a 88% jump
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By CNBCTV18.com Oct 20, 2022 9:00:43 PM IST (Updated)

Bajaj Finance's asset quality in the reported quarter has improved both sequentially and year-on-year.

Bajaj Finance on Thursday reported its highest-ever consolidated net profit (PAT) of Rs 2,781 crore for the quarter that ended September, up 88 percent compared to the same period in the last fiscal. Sequentially, the net profit is up seven percent.

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Total income rose by 29 percent to Rs 9,972 crore during the July-September quarter of 2022-23 from Rs 7,735 crore in the same period of 2021-22, Bajaj Finance said in a regulatory filing.
The company's asset quality in the reported quarter has improved both sequentially and year-on-year with gross NPA and net NPA (non-performing asset) as of September-end coming in at 1.17 percent and 0.44 percent, respectively, as against 2.45 percent and 1.10 percent same quarter last year.
The net interest income (NII) for the quarter has increased by 31 percent in the same period to Rs 7,001 crore. New loans have grown by 7 percent to 67.6 lakh, the company said. Interest income grew by 27 percent to Rs 8,509 crore in Q2 FY23.
Consolidated assets under management (AUM) rose 31 percent to Rs 2,18,366 crore.
(This copy will be updated)
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