Mumbai16 minutes ago
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Financial sector major Bajaj Finance has released its first quarter results. The company has made a profit of Rs 1000 crore during this period, which was Rs 962 crore in the year-ago quarter. In this context, the company’s profit has grown by 4% on a yearly basis.
Bajaj Finance interest earnings up 8%
Net interest income (NII) also increased by 8% to Rs 4,489 crore in the first quarter from Rs 4,152 crore in the year-ago quarter. There was a marginal increase in income from operations, which increased from Rs 6,648 crore to Rs 6,742 crore.
Company’s earnings decreased on quarterly basis
In the exchange filing, the company said that its income in the June quarter stood at Rs 5,900 crore, as against Rs 5,793 crore a year ago. Whereas in the March quarter it was Rs 6000 crore. That is, the company’s earnings have decreased on a quarterly basis.
Gross NPA increased during April to June
The asset under management (AUM) of Bajaj Finance stood at Rs 1.6 lakh crore in the first quarter. The company’s gross NPA stood at 2.96%, as against 1.79% in the previous quarter. Net NPA figure also rose to 1.46% from 0.75% on a quarterly basis. The loan book of Bajaj Finance increased from Rs 17.5 lakh to Rs 46.3 lakh during April-June.