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.
Recommended Articles
View All
India’s external affairs minister lists 10 reasons the world should take note — Budget 2023
Feb 2, 2023 IST2 Min(s) Read
The A to Z of FM Sitharaman's Budget 2023 — alphabetically yours
Feb 1, 2023 IST6 Min(s) Read
Nirmala Sitharaman’s big capex push a welcome step, but funding could prove a challenge
Feb 1, 2023 IST3 Min(s) Read
Old vs new tax regime after Budget 2023 — Check which is better for you
Feb 1, 2023 IST4 Min(s) Read
"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.