Bajaj Finance on Wednesday reported a 29 per cent year-on-year decline in consolidated net profit to Rs 1,145.98 crore for the quarter ended December 2020. The financier’s profit in the year-ago period was Rs 1,614.11 crore.
Net interest income (NII) was Rs 4,296 crore for the third quarter, down 5.3 percent year-on-year, due to higher interest income of Rs 450 crore and higher cost of liquidity surplus compared to Rs 83 crore in Q3FY20. 213 crores as compared to Rs 83 crores in Q3FY20.
NII stood at Rs 4,535 crore in the last fiscal quarter.
The company said that gross non-performing assets (NPAs) and net NPAs as of December 31, 2020 were 0.55 percent and 0.19 percent, as against 1.61 percent and 0.70 percent, respectively.
The company reported loan losses and provisions of Rs 1,352 crore against quarter-over-quarter of Rs 1,700 crore.
New loans booked during Q3FY21 were 6.04 million as against 7.67 million in Q3FY20.
As on December 31, 2020, the assets under management stood at Rs 1,43,550 crore for the year as against Rs 1,45,092 crore.