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Bajaj Finance Q4 Results: Net profit jumps 80% to Rs 2,420 crore – Economic Times

NEW DELHI: NBFC giant on Tuesday reported consolidated net profit for the quarter ended March at Rs 2,419.51 crore, up 79.67 per cent compared to Rs 1,346.64 crore in the corresponding quarter last year.

An analyst poll conducted by ET Now had projected net profit at Rs 2,500 crore.

The company said it was its highest ever consolidated net profit. It also reported the highest ever consolidated profit after tax of Rs 7,028 crore for the fiscal year ended March 2022.

The company’s net interest income (NII) for the March quarter increased by 30 per cent to Rs 6,068 crore from Rs 4,659 crore in the year ago quarter. New loans booked grew by 15 per cent to 6.28 million as against 5.47 million in the same quarter last year.

The company also announced a dividend of Rs 20 per share. The record date for the payment of dividend is July 1, 2022.

Assets under management (AUM) grew by 29 per cent to Rs 1,97,452 crore (including IPO financing receivables of Rs 5,365 crore) as of 31 March 2022 from Rs 1,52,947 crore as of 31 March 2021. Core AUM growth in Q4FY22 was Rs 10,837 crore.

Loan losses and provisions for the quarter was Rs 702 crore as against Rs 1,231 crore in Q4FY21, the company said. The company holds a management and macro-economic overlay of Rs 1,060 crore as of March-end.

Gross NPA (non-performing assets) and Net NPA stood at 1.60 per cent and 0.68 per cent respectively, as against 1.79 per cent and 0.75 per cent as of 31 March 2021. The Company has provisioning coverage ratio of 58 per cent on stage 3 assets and 134 bps on stage 1 and 2 assets as of 31 March 2022.

On standalone basis, NII for Q4 FY22 increased by 32 per cent to Rs 5,672 crore from Rs 4,287 crore in Q4FY21. Profit after tax for the same period increased by 95 per cent to Rs 2,268 crore from Rs 1, 161 crore.