scorecardresearchBajaj Finance posts highest-ever 88% jump in profit

Bajaj Finance posts highest-ever 88% jump in profit

Updated: 21 Oct 2022, 08:07 AM IST
TL;DR.
Bajaj 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.
Indian rupee coins in a bowl arranged for a photograph at a general store in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg

Indian rupee coins in a bowl arranged for a photograph at a general store in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg

(ANI): Bajaj Finance on Thursday posted an 88 per cent jump in its net profit to 2,781 crore during the quarter ended September 30, against 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 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.

First Published: 21 Oct 2022, 08:07 AM IST