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.
Sanjiv Bajaj, MD, Bajaj Finserv told CNBC-TV18 that the benefit of the rate cut (by RBI) will be achieved only when banks and non banking financial companies (NBFCs) will start implicating it immediately.
Sanjiv Bajaj, MD, Bajaj Finserv explains to CNBC-TV18 that the performance of the finance, life and general insurance arms of the company has helped strengthen results.
MD of Bajaj FinServ Sanjiv Bajaj tells CNBC-TV18 that the proceeds of their rights issue will be used to fund growth and expansion plans.