Bajaj Finance’s consolidated net profit in Q3 increased by 85%
Bajaj Finance Limited on Tuesday recorded an 85% jump in consolidated net profit at Rs 2,125 in the third quarter of the current financial year, compared with Rs 1,146 it reported in the same period last year. .
The company’s net interest income (NII) for the quarter from December 2021 to 22 jumped 40% to Rs 6,000 compared with Rs 4,296 recorded in the corresponding period of the previous financial year.
By asset quality, the company’s total bad assets (NPA) and net NPA at the end of the December quarter stood at 1.73% and 0.78%, respectively, compared with 2.45% and 1.10% in previous September quarter.
The company recorded new loans of 7.44 million in Q3, higher than 6.04 million in the same period last year.
Assets under management (AUM) in the reported quarter increased 26% to Rs 1.8 lakh as of December 31, 2021 from Rs 1.43 lakh in the same period last year.
Meanwhile, core AUM growth in the third quarter of the current financial year stood at Rs 14,700 crore.
