Bajaj Finance logs 85% yoy rise in Q3 PAT of Rs2,125cr, asset under management records 26% yoy growth; Stock pulls back from new high

19 Jan 2022 , 01:33 PM

NBFC-major, Bajaj Finance garnered an 85% rise in net profit of Rs2,125cr for the quarter ending December 2021 (Q3FY22) compared to Rs1,146cr in Q3 FY21.  Net Interest Income (NII) for Q3 FY22 increased by 40% to Rs6,000cr as against Rs4,296cr in Q3 FY21. Interest income reversal for the quarter was Rs241cr as compared to Rs450cr in Q3 FY21.

The NBFC’s asset under management (AUM) grew by 26% to Rs181,250cr as of 31 December 2021 from Rs143,550cr as of 31 December 2020. Core AUM growth 1 in Q3 FY22 was approximately Rs14,700cr.

New loans booked during Q3 FY22 were 7.44 million as against 6.04 million in Q3 FY21.

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. 

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 a provisioning coverage ratio of 56% on stage 3 assets and 156 bps on stage 1 and 2 assets as of 31 December 2021.

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).

On Wednesday, Bajaj Finance clocked a new 52-week high of Rs8043.50 per piece on Sensex in the early deals. However, the stock has corrected and was in the red zone.

At around 1.31 pm, Bajaj Finance was trading at Rs7552 per piece down by Rs195.15 or 2.52% on Sensex.