Bajaj Finance Records 85% Jump In Third Quarter Profit At Rs 2,125 Crore

Bajaj Finance Limited on Tuesday recorded a huge 85 per cent jump in its consolidated net profit at Rs 2,125 crore for the third quarter period of current fiscal, compared to Rs 1,146 crore it had reported during the corresponding period of last year.

The company's net interest income (NII) for the December quarter of 2021-22 went up by 40 per cent to Rs 6,000 crore as against Rs 4,296 crore recorded in the corresponding period of last fiscal. 

Under asset quality, gross non performing assets (NPA) and net NPAs of the company at the end of December quarter stood at 1.73 per cent and 0.78 per cent respectively, as against 2.45 per cent and 1.10 per cent in the previous September quarter.

The company has booked new loans at 7.44 million during the third quarter, higher than 6.04 million in the year-ago period.

Assets under management (AUM) during the reporting quarter grew by 26 per cent to Rs 1.8 lakh crore as of December, 31, 2021 from Rs 1.43 lakh crore of the corresponding period of last year.

Meanwhile, core AUM growth in the third quarter of the current fiscal was at Rs 14,700 crore.