Bajaj Finance, a provider of personal, home and vehicle loans has reported a rise of 53% in its consolidated profit after tax of Rs 14,810 million for the quarter ended 30 September 2021. It had posted a profit of Rs 9,650 million in the previous quarter a year ago.
Gross NPA and Net NPA as of 30 September 2021 stood at 2.45% and 1.10% respectively, as against 2.96% and 1.46% as of 30 June 2021. The Company has provisioning coverage ratio of 55% on stage 3 assets and 155 bps on stage 1 and 2 assets as of 30 September 2021.
Capital adequacy ratio (including Tier-II capital) as of 30 September 2021 was 27.68%. The Tier-I capital was 24.90%.
New loans booked during Q2 FY22 were 6.33 million as against 3.62 million in Q2 FY21.
Customer franchise stood at 52.80 million as of 30 September 2021 as compared to 44.11 million as of 30 September 2020, a growth of 20%. The Company’s customer franchise increased by 2.35 million in Q2 FY22 as compared to 1.16 million in Q2 FY21.
Assets under management (AUM) grew by 22% to Rs 1,669,370 million as of 30 September 2021 from Rs 1370,900 million as of 30 September 2020. Core AUM growth 1 in Q2 FY22 was approximately Rs 111,500 million.
Net Interest Income (NII) for Q2 FY22 increased by 28% to Rs 53,350 million as against Rs 41,620 million in Q2 FY21. Interest income reversal for the quarter was Rs 3,220 million as compared to Rs 2,160 million in Q2 FY21.
Total operating expenses to net interest income for Q2 FY22 was 38.1% as against 27.8% in Q2 FY21.
Loan losses and provisions for Q2 FY22 was Rs 13,000 million as against Rs 17,000 million in Q2 FY21.
During the quarter, the Company has done accelerated write offs of Rs 3,550 million of principal outstanding on account of COVID-19 related stress and advancement of write off policy. The Company holds a management and macro-economic overlay of Rs 8,320 million as of 30 September 2021.
Shares of the company declined Rs 274.85, or 3.50%, to trade at Rs 7,574.30. The total volume of shares traded was 53,560 at the BSE (11.50. a.m., Wednesday).
