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Bajaj Finance reported a 36 percent rise in net profit to Rs 555.56 crore for the third quarter of current fiscal. Total Income rose to Rs 2,729.08 crore in comparison to Rs 2,069.62 crore quarter-on-quarter.
Non-banking finance company Bajaj Finance is expected to report a 16.8 percent growth in third quarter profit at Rs 477.1 crore compared with Rs 408.5 crore in year-ago period.
Non-banking finance company Bajaj Finance is expected to report stellar performance in July-September quarter. Profit is likely to jump 44.5 percent year-on-year to Rs 403.6 crore during the quarter, according to analysts polled by CNBC-TV18.
Net Interest Income is expected to increase by 0.8 percent Q-o-Q (up 44 percent Y-o-Y) to Rs 1292.3 crore, according to KR Choksey.
SREI Infrastructure Finance posted strong disbursement growth in the quarter gone by, at 40 percent.
Bajaj Finance expects a 25 percent growth in its balancesheet and 20 percent net income growth from a medium-to-long-term point of view, the company's Managing Director Rajeev Jain tells CNBC-TV18.
Key things to watch out for would be asset quality, AUM growth and commentary on rural economy.
Mortgage loans, which are of a longer duration, has dragged the growth rate down, says Sanjiv Bajaj, MD of Bajaj Finserv.
In an interview with CNBC-TV18, Bajaj Finance MD Rajeev Jain, discussed the company's third quarter earnings.
Sanjiv Bajaj, MD, Bajaj Finserv says the general insurance industry is still seeing slow growth of 10-11 percent because a large part of the industry is motor insurance and motor sales have remained tepid.
The board of the company has already approved a total of Rs 1800 crore of fund raising which includes up to Rs 1400 crore through QIP and Rs 400 crore through warrants to Bajaj Finserv which is the promoter company.
Nischint Chawathe of Kotak Institutional Equities expects the housing finance companies from the NBFC space to out perform others.
Third quarter net profits for Bajaj Finance rose 33 percent to Rs 258.4 crore while revenues jumped 38 percent to Rs 1,476.5 crore. Shares surged over 15 percent following the earnings declaration. CEO Rajeev Jain said the company was increasing its focus on rural lending.
Bajaj Finance's Q3 PAT is up 21 percent. However, the company took an accelerated provisioning in Q3 (a one-time number), adjusted for that, it would have been a 30 percent profit growth, says Rajeev Jain.
Bajaj Finance has reported profit after tax of 27 percent at Rs 176 crore, which includes a one-time standard asset provisioning to the tune of Rs 18 crore. It's assets under management stood at Rs 19,229 crore.
Sanjiv Bajaj, MD, Bajaj Finserv. says he says the big growth numbers this quarter came from Bajaj Finance and Bajaj Allianz General Insurance, whereas Bajaj Allianz Life insurance has seen a drop as the industry has contracted because of the number of new product regulations in the recent past.
Since last four quarters Bajaj Finance has been reducing its loan exposure to commercial segement including infra, equipments and vendor financing. It is now bottomed out. It will again start lending to this sector.
Bajaj Finance is seen as one of the major contenders for applying the new banking license. In its third quarter earnings, the company has cautiously reduced its exposure to infrastructure lending while extending credit to the affluent class for buying white goods (viz. fridge, tv, washing machine) and vehicles.
Rajeev Jain, CEO, Bajaj Finance explains on CNBC-TV18 that the company was able to post a growth of 37 percent thanks to the superlative performance by the company‘s consumer businesses- the consumer electronics financing and the two-wheeler financing arms
In an interview to CNBC-TV18 Suresh Ganapathy of Macquarie reviewed the second quarter financial performance of various public and private sector banks.
Higher loan provisions tempered Pune-based Bajaj Finance's second quarter (July-September) net profit growth. Without the provisions, the non-banking finance company's net profit would have risen 58% instead of 48%, chief executive Rajeev Jain told moneycontrol.com.
Rajeev Jain, CEO of Bajaj Finance said the net profit after tax has been driven up mainly because of credit performance which holds reasonably steady across most of the company‘s businesses. He further added that the margins too are quite secure.
In an interview to CNBC-TV18, Rajeev Jain, chief executive officer of Bajaj Finance says, the third quarter has been excellent. According to him, demand has slowed down. “The overall competitive environment remains benign. That is helping us continue to hold our guidance of close to Rs 13,000 crore of AUM by end of Q4,” he adds.
In an interview to CNBC-TV18, Sanjiv Bajaj, managing director of Bajaj FinServ said, the life insurance business has seen very strong profit. “But on the top-line, the industry and we have continued through four-five quarters of declining growth.” From third-fourth quarter, he expects some growth coming on the top-line of life insurance business.
Bajaj Finance sees FY12 profit up 50 pct - CEO