Shares of the Pune-based non-banking finance company – Bajaj Finance – rose as much as 3.51 per cent to hit an intraday high of Rs 5,036 on the National Stock Exchange a day after it reported March quarter earnings. Bajaj Finance’s net profit in January-March quarter came in at Rs 1,346.64 crore, that marked an increase of 42 per cent from profit of Rs 948 crore during the same quarter last year. For financial year 2020-21, Bajaj Finance’s net profit came in at Rs 4,420 crore.
Bajaj Finance’s total revenue from operations declined 5 per cent to Rs 6,850.62 crore on account of fees and commission income.
New loans booked during the last quarter of financial year 2020-21 were 54.7 lakh as against 60.3 lakh in the same quarter last year. Customer franchise as of 31 March 2021 stood at 48.57 million as against 42.60 million as of 31 March 2020. The Company acquired 2.26 million new customers in Q4 FY21 as compared to 1.85 million in Q4 FY20, Bajaj Finance said in a press release.
Bajaj Finance’s net interest income (NII) for Q4 FY21 was Rs 4,659 crore as against Rs 4,684 crore in Q4 FY20. Interest income reversal for the quarter was Rs 298 crore as compared to Rs 122 crore in Q4 FY20.
Gross NPA and Net NPA as of 31 March 2021 stood at 1.79 per cent and 0.75 per cent respectively, as against 1.61 per cent and 0.65 per cent as of 31 March 2020. The Company has provisioning coverage ratio of 58 per cent on stage 3 assets and 181 basis points on stage 1 and 2 assets as of 31 March 2021, Bajaj Finance added.
As of 10:26 am, Bajaj Finance shares traded 2.81 per cent higher at Rs 5,002, outperforming the nifty which was 0.65 per cent.