Bajaj Finance Net Profit Falls 3% To Rs 843 Crore In April-June Quarter

Shares of Bajaj Finance settled 1.24 per cent decrease at Rs 5,937.90 apiece on the BSE.

Financial companies firm Baja Finance introduced its April-June quarter outcomes for the monetary yr 2021-22, reporting a web revenue of Rs 842.9 crore on a standalone foundation, in comparison with Rs 869.50 within the corresponding quarter of the earlier fiscal, marking a decline of three per cent year-on-year. The firm's complete income from operations within the first quarter of the present fiscal stood at Rs 5,915.90 crore, in comparison with Rs 5,900.63 crore within the year-ago interval.

Bajaj Finance reported a six per cent rise to Rs 4,153 crore in web curiosity earnings - the distinction between curiosity earned and curiosity expended, within the June quarter, regardless of its operations being affected as a result of second wave of the COVID-19 pandemic. The non-bank lender reported a web curiosity earnings of Rs 3,917 crore in the identical quarter final yr.

The property underneath administration (AUM) grew by 12 per cent to Rs 1,19,567 crore within the April-June quarter within the present fiscal, in comparison with Rs 1,06,584 crore within the year-ago interval. The firm's mortgage losses and provisions for the June quarter stood at Rs 1,724 crore, in comparison with Rs 1,641 crore within the year-ago interval. Bajaj Finance holds a administration overlay and macro provision of Rs 351 crore as of June 30,  2021, in line with a regulatory submitting by the corporate to the inventory exchanges.

On Tuesday, July 20, shares of Bajaj Finance settled 1.24 per cent decrease at Rs 5,937.90 apiece on the BSE. Bajaj Finance opened don the BSE at Rs 6,013, inching to an intra day excessive of Rs 6,028.80 and an intra day low of Rs 5868.45, all through the buying and selling session immediately.