Bajaj Finance Limited on Monday reported a consolidated Profit After Tax (PAT) off 2,125 cr which was up 85 per cent from Rs 1, 146 cr in Q3FY21, the company said in its filing to exchanges. The company also reported its highest ever quarterly Core AUM growth off Rs 14,700 cr for the quarter ended 31 December 2021.

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Bajaj Finance Q3FY22 Results: Key Highlights

  1. Consolidated assets under management – Rs 181,250 crore vs Rs 143,550 crore
  2. Consolidated profit after tax – Rs 2, 125 crore vs Rs 1,146 crore
  3. New loans booked during Q3 FY22 were 7.44 million as against 6.04 million in Q3 FY21.
  4. Customer franchise stood at 55.36 million as of 31 December 2021 as compared to 46.31 million as of 31 December 2020, a growth of 20%. The Company's customer franchise increased by 2.56 million in Q3 FY22 as compared to 2.19 million in Q3 FY21.
  5.  Assets under management (AUM) grew by 26% to 181 ,250 crore as of 31 December 2021 from Rs 143,550 crore as of 31December2020. Core AUM growth 1 in Q3 FY22 was approximately 14,700 cr.
  6. Net Interest Income (NII) for Q3 FY22 increased by 40% to Rs 6,000 crore as against Rs 4,296 crore in Q3 FY21. Interest income reversal for the quarter was Rs 241 crore as compared to Rs 450 crore in Q3FY21.
  7. Total operating expenses to net interest income for Q3 FY22 was 34.7% as against 32.3% in Q3 FY21.
  8.  Loan losses and provisions for Q3 FY22 was Rs 1,051 crore as against Rs 1,352 crore in Q3 FY21.
  9. During the quarter, the Company has done accelerated write offs of Rs 163 crore of principal outstanding on account of COVID-19 related stress. The Company holds a management and macro-economic overlay of Rs 1,083 crore as of 31 December 2021.
  10. Profit before tax for Q3 FY22 increased by 84% to Rs 2,868 crore from Rs 1,555 in Q3 FY21.
  11. Profit after tax for Q3 FY22 increased by 85% to { 2, 125 crore from Rs 1, 146 crore in Q3 FY21.
  12. Gross NPA and Net NPA as of 31 December 2021 stood at 1.73% and 0.78% respectively, as against 2.45% and 1.10% as of 31 September 2021. The Company has provisioning coverage ratio of 56% on stage 3 assets and 156 bps on stage 1 and 2 assets as of 31 December 2021.

Capital adequacy ratio (including Tier-II capital) as of 31 December 2021 was 26.96%. The Tier-I capital was 24.44%.