Bajaj Finance Q1 result | Profit zooms 159% YoY, beats estimates
Major Banking Bajaj Finance on July 27 said the consolidated net profit for the quarter ended in June was at 2,596.25 Crore Hospital, the highest, up 158.99 percent from RS 1,002.44 Crore in the same quarter the previous year.
The amount is higher than the Estimated CNBC-TV18 analyst poll from RS 2435.8 Crore.
The company said the net interest income (NII) for the quarter increased 48 percent to 6,638 crore hospitals from RS 4,489 Crore in the quarter last year.
The new loan was ordered during the quarter grew 60 percent to 74.2 LAKH compared to 46.3 LAKH in Q1fy22. Customer franchise stands at 6.03 Crore, registering 20 percent growth. The company recorded the highest quarterly increase in the 27.3 lakh customer franchise in Q1fy23.
The company’s managed (AUM) assets across the RS 2,00,000 crore historical milestone in the quarter and established at RS 2,04,018 Crore on June 30, 2022, grew by 28 percent.
Losses and loan provisions for Q1fy23 are in RS 755 Crore compared to RS 1,750 Crore in Q1fy22. The company has overlay management and macro-economic as much as 1,000 crore Rs, said Bajaj Finance.
Non-Performing Assets dirty (NPA) and NPA net reached 1.25 percent and 0.51 percent, compared to 2.96 percent and 1.46 percent in the period last year. The company says it has a 60 percent provision of provision ratio in assets stage 3 and 130 basis points in assets phase 1 and 2.
The capital adequacy ratio (including Tier-II capital) on 30 June 2022 is 26.16 percent. Tier-i capital is 23.84 percent.
On the basis of Mandiri, the company’s net profit increased by 179 percent, while NII increased by 48 percent. Among the subsidiaries, Bajaj Housing Finance recorded 96 percent growth in net profit and Bajaj Financial Securities reported profits after RS 1 Crore tax on Crore Rs 3 Losses in Q1FY22.
After the income report, Bajaj Finance shares closed 2.38 percent higher in RS 6408.90.
