Bajaj Finserv Q3 profit jumps 32%, income 31%
The company's total expenses for the quarter stood at Rs 11,934 crore in Q3FY20 against Rs 8,918 crore in Q3FY19.
January 29, 2020 / 05:06 PM IST
Bajaj Finserv on January 29 reported a 32 percent year-on-year (YoY) growth in consolidated profit at Rs 1,126 crore for the December quarter of the financial year 2020.
The company had posted a profit of Rs 851 crore in the same period last year.
Its consolidated total income rose 31 percent YoY to Rs 14,561 crore against Rs 11,142 crore reported in the corresponding quarter of the previous financial year.
The company's expenses for the quarter stood at Rs 11,934 crore in Q3FY20 against Rs 8,918 crore in Q3FY19.
Revenue from the insurance segment climbed 20 percent YoY to Rs 5,607 crore against Rs 4,670 crore in the same quarter fo the same quarter of the previous financial year.
The company's gross non-performing assets (NPA) and net NPA stood at 1.61 percent and 0.70 percent, respectively, while AUM stood at Rs 1.45 lakh crore in Q3FY20 against Rs 1.08 lakh crore in Q3FY19.
Bajaj Finserv is the holding company for the various financial services businesses of the Bajaj group.
Bajaj Finserv participates in the financing business through its 52.82 percent holding in Bajaj Finance and in the protection business through its 74 percent holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company.
Bajaj Housing Finance, which does mortgage business, is a wholly owned subsidiary of Bajaj Finance.
Bajaj Finance on January 29 reported a healthy 52 percent year-on-year growth in profit for October-December quarter of 2019 driven by strong NII and AUM with stable asset quality.
Profit during the quarter stood at Rs 1,614 crore up from Rs 1,060 crore in the same period last year. For All Earnings Related News - Click Here