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Bajaj Finance registers 53.5% growth in Q2, net profit at Rs 1,481 crore

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Bajaj Finance registers good growth in net profit in Sep-end quarter

Bajaj Finance has reported a massive 53.5 per cent growth in its net profit in the second quarter of the current fiscal at Rs 1,481 crore as compared to Rs 965 crore in the corresponding period of the previous year.

The lender’s net interest income alone increased by 26 per cent over the previous year to Rs 4,920 crore.

Similarly, its consolidated net interest income rose 28 per cent to Rs 5,335 crore.

If there is no third wave of coronavirus, Bajaj Finance estimates that its total credit cost for the current fiscal will be in the range of Rs 4,300 crore.

Its assets under management also rose to Rs 1.23 lakh crore, an increase of 17 per cent from the year-ago period. On a year-on-year basis, the assets under management of Bajaj Finance grew 22 per cent to Rs 1.67 lakh crore.

The company said market growth and risk appetite improved during the second quarter, giving it confidence for the remainder of the year.

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