Bajaj Finance on Wednesday reported a 52% year-on-year growth in net profit for the December quarter led by strong Net Interest Income (NII) and stable Assets under management (AUM).
Net profit during the quarter stood at ₹1,614 crore up from ₹1,060 crore in same period last year. Net interest income rose by 42% y-o-y to ₹4,537 crore in the quarter with 13% growth in new loans.
Gross NPA ratio was unchanged sequentially at 1.61%, but the net NPA ratio rose 5 basis points quarter-on-quarter to 0.70%. Loan losses and provisions for the quarter was ₹831 crore, increased significantly from ₹594 crore in Q2FY20.