NIFTY 50

Liquidity squeeze not impacted company's Q3 earnings, says Bajaj Finance

Updated : January 29, 2019 06:21 PM IST

Bajaj Finance on Tuesday said the liquidity squeeze seen in the market has not affected the company's third quarter performance as it reported the highest ever quarterly profit.

"It has been a very good quarter in what one would say a tough quarter for non-banking finance sector given the liquidity squeeze that persisted for the first 45 days of the quarter," said Rajeev Jain, MD, Bajaj Finance.

The company reported 54 percent jump in consolidated net profit at Rs 1,060 crore for the third quarter ended December, 2018.

The company has demonstrated its asset side strength, said Jain, adding that its liability side strength came through very strongly in the current quarter.

Total income during the December quarter of 2018 was up by 48 percent at Rs 4,995 crore from Rs 3,374 crore in the same quarter a year ago.

Company's gross non-performing assets (NPAs) and net NPAs as of December 31, 2018 stood at 1.55 percent and 0.62 percent respectively.
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