Moneycontrol
Last Updated : May 17, 2018 02:49 PM IST | Source: Moneycontrol.com

Bajaj Finance Q4 FY18 net profit surges 60.5% YoY at Rs 720.9cr

Assets under management (AUM) as on March 31, 2018 increased 33.6 percent YoY to Rs 80,444 crore.

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Bajaj Finance reported a 60.5 percent year-on-year surge in net profit at Rs 720.95 crore for the fourth quarter ending March 2018 on the back of robust interest income and lower provisions due to improvement in bad loans.

The non-banking financial company's (NBFC) net profit in the same quarter last year was Rs 449 crore.

Net interest income (NII) for the quarter gone by increased to Rs 2,365 crore, up 40 percent YoY from Rs 1,686 crore in the corresponding quarter last year.

Assets under management (AUM) as on March 31, 2018 increased 33.6 percent YoY to Rs 80,444 crore.

Gross and net non-performing assets (NPAs), as percentage of gross and net advances, as on March 31 improved to 1.48 percent and 0.38 percent from 1.67 percent and 0.53 percent in the previous quarter, respectively.

During the January to March period, provisions towards loans were a tad lower at Rs 273.9 crore as compared to Rs 286.5 crore in the same period in 2017. Sequentially, provisions increased 10.9 percent from Rs 246.8 crore.

Provision coverage ratio (PCR) improved to 75 percent versus 68 percent a year back.

The company’s board also recommended a dividend of Rs 4 per equity share of face value Rs 2, subject to shareholder approval.After its earnings announcement at 14.30 hours, shares of Bajaj Finance rose 3.20 percent to trade at Rs 1,980 per share as compared to a 0.24 percent fall in the Sensex.
First Published on May 17, 2018 02:49 pm
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