Bajaj Finance posts highest-ever 88 pc jump in profit
Oct 20, 2022
Pune (Maharashtra) [India], October 20 : Bajaj Finance on Thursday posted an 88 per cent jump in its net profit to Rs 2,781 crore during the quarter ended September 30, against Rs 1,481 crore in the year-ago period.
New loans of the non-banking finance company (NBFC) booked during the reviewed quarter grew 7 per cent to 6.76 million as against 6.33 million in the year-ago period.
Its assets under management grew 31 per cent to Rs 2,18,366 crore. The NBFC said that its customer franchise stood at 62.91 million as of 30 September 2022, against 52.80 million in the year-ago period, which showed a 19 per cent growth. The company's customer franchise grew 2.61 million during the reviewed quarter.
The Pune-headquartered company said gross non-performing asset (NPA) and net NPA as of 30 September 2022 stood at 1.17 per cent and 0.44 per cent, respectively, against 2.45 per cent and 1.10 per cent as of 30 September 2021.
