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Bajaj Finance Clocks Highest-ever Net Profit Of ₹2,420 Cr, Up 80% Yoy | Mint – Mint

Bajaj Finance has clocked its highest ever consolidated profit after tax of 2,420 crore for the quarter ended 31 March, 2022, up 80% over 1,346 crore in the year-ago period.

Net interest income for the March quarter rose 30% to 6,068 crore as against 4,659 crore in same quarter last year.

On Tuesday, Bajaj Finance shares closed 3.61% higher at 7,258.60 apiece on NSE.

The Board has also recommended a dividend of 20 per equity share of face value of for financial year 2021-22.

Assets under management (AUM) during the quarter grew by 29% to 1.97 lakh crore (including IPO financing receivables of 5,365 crore) as of 31 March 2022 from 1.52 lakh crore as of 31 March 2021.

New loans booked during the fourth quarter grew by 15% to 6.28 million as against 5.47 million in same quarter of last year.

Gross non-performing assets (NPAS) and Net NPA as of 31 March 2022 stood at 1.60% and 0.68% respectively, as against 1.79% and 0.75% as of 31 March 2021.

The company has provisioning coverage ratio of 58% on stage 3 assets and 134 bps on stage 1 and 2 assets as of 31 March 2022.

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