Bajaj Finance Q4 PAT jumps 42% yoy to Rs1,347cr; Declares dividend of Rs10 per share; Stock gains ~3%

For FY21, PAT declines 16% yoy to Rs4,420cr from Rs5264cr in FY20. NII in Q4FY21 declined half a percent to Rs4,659cr from Rs4,684cr in Q4FY20.

Apr 28, 2021 09:04 IST India Infoline News Service

Bajaj Finance Limited (BFL) on Tuesday reported consolidated profit after tax of Rs1,347cr and Rs4,420cr for the quarter and year ended March 31, 2021 respectively. The consolidated Q4FY21 PAT increased by 42% yoy compared to Rs948cr in Q4FY20. For FY21, PAT declined 16% yoy from Rs5264cr in FY20.

The PAT of the March ended quarter was supported by loan losses and provisions of Rs1,231cr as against Rs1,954cr in Q4 FY20.

At around 9.50 am, Bajaj Finance Ltd was trading at Rs5007.90 per piece up Rs134.45 or 2.76% on the BSE. It hit a day's high of Rs5038.05 per piece early on Wednesday.

“During the quarter, the company has done accelerated write-offs of Rs1,530cr of principal outstanding on account of Covid-19 related stress and advancement of its write-off policy. The company holds a management overlay and macro provision of Rs840cr as of March 31, 2021,” company said in a regulatory filing on Tuesday.

Net interest income declined half a percent to Rs4,659cr from Rs4,684cr in Q4FY20.  New loans booked during Q4FY21 were 5.47 million as against 6.03 million in Q4FY20.

The consolidated assets under management stood at Rs152,947cr as against Rs147,153cr previously. The consolidated results of BFL include the results of its wholly owned subsidiaries viz. Bajaj Housing Finance Limited (BHFL) and Bajaj Financial Securities Limited (BFinsec).

Gross non-performing assets (NPA) declined to 1.79% as of March 2021 from 2.86% in the previous quarter and net NPA also dropped to 0.75% from 1.22% in the same period.

The liquidity surplus as of March 2021 was Rs16,485cr compared to Rs15,842cr in March 2020.

Bajaj Finance said the board of directors has recommended a dividend of Rs10 per equity share of the face value of Rs2 for FY21.

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