Pune-based non-banking finance company Bajaj Finance on
Tuesday reported a 53% year-on-year jump in the first quarter net profit at Rs
139 crore, bolstered by higher rate of loan disbursals that grew 32% to about
Rs 4,730 crore from a year ago.
Net interest income (NII) or the difference between interest
earned and paid out, ramped up 41% to Rs 440 crore. The NBFC chose to expand
its consumer finance book (wherein credit is given to affluent class to buy
white good products as well as two/three wheeler and personal loans) at a
faster pace of 48% y-o-y. While the SME loans grew 45%, the company brought
down exposure to commercial segment (including construction equipments,
infrastructure loans and vendor financing).
Total asset under management stood at around 14,500 crore, a
whopping rise of 60% y-o-y. The asset expansion however did not come at the
cost of quality. Its non-performing assets (NPAs) improved at least, on a y-o-y
basis.
In the April-June quarter, the net NPA ratio dropped to
0.10% as compared with 0.46% during the corresponding period of the previous
year. This was the lowest in the last five years, according to a company
release. Its loan losses and provisions fell from Rs 34 crore in Q1, FY12 to Rs
32 crore in Q1, FY13.
However, the company did not mention net NPA ratio on
sequential (quarter-on-quarter) basis.
At 13:30 hours IST, Bajaj Finance shares were trading at Rs
975, up 1.21% after hitting a 52-week high of Rs 1,010.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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