April 28, 2021 12:35 PM
Bajaj Finance posted a consolidated net profit of Rs 1,347 crore for the March quarter. The company’s net profit for the same period of 2019-20 was Rs 948 crore, up 42 per cent. The results include Bajaj Housing Finance (BHFL), a full-fledged subsidiary of Bajaj Financial Securities.
Total income fell 5 per cent to Rs 6,855 crore from Rs 7,231 crore. The company’s board of directors has decided to pay a dividend of Rs 10 per share with a face value of Rs 2.
Bajaj Finance (BFL) on Tuesday reported a 42 per cent jump in consolidated net profit at Rs 1,347 crore for the fourth quarter of the fiscal ended March 2021.
The company’s net profit stood at Rs 948 crore in the January-March period of the preceding fiscal year 2019-20. The consolidated figures of BFL include results of wholly-owned subsidiaries Bajaj Housing Finance Ltd (BHFL) and Bajaj Financial Securities Ltd (BFinsec).
The new loans booked during Q4 FY21 fell to 54.7 lakh (5.47 million) as against 60.3 lakh (6.03 million) in the same quarter a year ago, Bajaj Finance said in a regulatory filing. Net interest income during the quarter also dipped 1 per cent to Rs 4,659 crore from Rs 4,684 crore in Q4 FY20.
New loans booked in FY21 fell 38 per cent to 16.88 million as against 27.44 million a year ago. The company’s assets under management as of March 31, 2021 increased by 4 per cent to Rs 1.52 trillion as against Rs 1.47 trillion a year ago.
The gross and net non-performing assets (NPAs) stood at 1.79 per cent and 0.75 per cent respectively by end of March 2021, as against 1.61 per cent and 0.65 per cent earlier.