Bajaj Finance reports Assets Under Management (AUM) of ` 72,139 crore and quarterly profit after tax of ` 557 crore – A growth of 37% over corresponding quarter of previous year.
The Board of Directors of Bajaj Finance Limited in their meeting held today took on record the Unaudited Financial Results of the Company for the quarter ended 30 September 2017.
Ø New loans booked during Q2 FY18 é 48% to 3,231,078 from 2,176,798 in Q2 FY17.
Ø Assets under Management (AUM) as of 30 Sep 2017 é 38% to ` 72,139 crore from ` 52,332 crore as of 30 Sep 2016.
Ø Customer franchise as of 30 Sep 2017 é 28% to 22.99 million from 18.0 million as of 30 Sep 2016.
Ø Total income for Q2 FY18 é 33% to ` 3,102 crore from ` 2,341 crore in Q2 FY17.
Ø Profit after tax for Q2 FY18 é 37% to ` 557 crore from ` 408 crore in Q2 FY17.
Ø Loan losses and provisions for Q2 FY18 were ` 228 crore as against ` 165 crore in Q2 FY17.
Ø Gross NPA and Net NPA as of 30 Sep 2017 stood at 1.68% and 0.51% respectively. The provisioning coverage ratio stood at 70% as of 30 Sep 2017. The Company continues to provide for loan losses in excess of RBI requirements.
As required by RBI guidelines, the Company has moved its NPA recognition policy from 4 months overdue to 3 months overdue in this financial year. The comparable Gross and Net NPA on 4 months overdue stood at 1.44% and 0.40% respectively as against 1.58% and 0.43% respectively as of 30 September 2016.
Ø Capital adequacy ratio (including Tier-II capital) as of 30 Sep 2017 stood at 25.42%. The Tier-I capital stood at 19.86%. During the quarter, the Company has raised ₹ 4,500 crore of equity capital through Qualified Institutions Placement (QIP).
Key financial figures
* Includes short term IPO financing book of ` 500 crore – adjusted for this the AUM growth of commercial business is 48%.
# Adjusted for short term IPO financing book of` 500 crore, total AUM growth is 37%.
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Sign me up for the newsletter!
Notify me of follow-up comments by email.
Notify me of new posts by email.
The Best Method Of Saving On The Energy Bills At Home
Mercedes-Benz India launches ‘Wishbox 2.0’ to excite the luxury car market, create incremental demand and reinstall customer confidence
Unprecedented events require disruptive behavior by HR
GoNuts launches India’s most influential fans-celebrity connect platform
Acer partners with Indian Principals’Network (IPN) for Smart Teaching Initiative
2014 The Global Indian New Network (TGINN)