Bajaj Finance Q2 Results: Net profit jumps 29% YoY to Rs 6,367 crore, NII up 24%

Bajaj Finance reported a 29% year-on-year increase in net profit to Rs 6,367 crore in the September quarter, compared with Rs 4,948 crore a year earlier.Net interest income rose 24% to Rs 13,335 crore from Rs 10,785 crore in the year-ago quarter. Net total income increased 23% to Rs 15,974 crore from Rs 12,982 crore.Assets under management grew 26% year-on-year to Rs 5.85 lakh croreas of September 30, 2026, from Rs 4.62 lakh crore a year earlier. AUM increased by Rs 37,680 crore during the quarter.The non-banking financial company booked 13.45 million new loans in the quarter, up 11% from 12.17 million in the corresponding period last year. Its customer franchise grew 16% year-on-year to 128.85 million as of September 30, adding 4.42 million customers during the quarter.Profit before tax rose 29% to Rs 8,537 crore from Rs 6,608 crore in the year-ago quarter. Excluding a prudent management and macroeconomic provision of Rs 337 crore, profit before tax grew 34% to Rs 8,874 crore. Net profit before the additional provision stood at Rs 6,619 crore, up 34% year-on-year.Pre-provisioning operating profit increased 23% to Rs 10,699 crore from Rs 8,685 crore a year earlier. Operating expenses as a proportion of net total income stood at 33%, marginally lower than 33.1% in the year-ago quarter.Loan losses and provisions rose to Rs 2,166 crore from Rs 2,080 crore a year earlier. Excluding the additional provision of Rs 337 crore, loan losses and provisions declined 12% to Rs 1,829 crore.The annualised ratio of loan losses and provisions to average assets under finance stood at 1.56%, compared with 1.88% a year earlier. Excluding the additional provision, the ratio was 1.32%.

from Economic Times https://ift.tt/e3iNRd8

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