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Last Updated : May 16, 2019 03:16 PM IST | Source: Moneycontrol.com

Bajaj Finance posts highest ever quarterly profit at Rs 1,176 crore

Net interest income (NII) was up 50 percent at Rs 3,395 crore from Rs 2,265 crore in Q4FY18

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Bajaj Finance has reported 57 percent jump in its consolidated net profit at Rs 1,176 crore in Q4 on the back of fall in provisions. It had reported a profit of Rs 748 crore in a year ago period.

Net interest income (NII) was up 50 percent at Rs 3,395 crore from Rs 2,265 crore in Q4FY18.

Net NPA of the company was at 0.63 percent while Gross NPA stood at 1.54 percent, QoQ. It loan losses and provisions declined to Rs 409 crore from Rs 454 crore, QoQ.

However, the provision coverage ratio was unchanged at 60 percent. The asset under management (AUM) as of March 31 was up 41 percent at Rs 1.16 lakh crore.

The company board recommended a dividend of Rs 6 per equity share, 300 percent of the face value of Rs 2, subject to the approval of the shareholders at the 32nd annual general meeting to be held on July 25, 2019.

At 1442 hours, Bajaj Finance was quoting at Rs 3,092.05, up Rs 89.50, or 2.98 percent.
First Published on May 16, 2019 03:08 pm
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