Bajaj Finance Q1 Result: At present, companies are releasing their quarterly results. Bajaj Finance Limited has also released the first quarter results. The company’s net profit has more than doubled to Rs 2,596 crore in the April-June quarter of the current financial year. This is the record profit of the company for any quarter so far. At the same time, in the first quarter of the last financial year, the company had earned a net profit of Rs 1002 crore.
The company gave information to the stock market
Bajaj Finance said in the information sent to the stock market on Wednesday that due to the increase in loan, the income has strengthened and the profit of the company has increased. Bajaj Finance’s total income during the April-June quarter has increased by 38 per cent to Rs 9,283 crore. It was Rs 6,743 crore in the same quarter of the previous financial year.
increased interest income
The interest income of the company has increased by 33 per cent to Rs 7,920 crore in the quarter under review. It was Rs 5,954 crore in the same quarter a year ago. Apart from this, the assets under management (AuM) of the company also increased by 30 per cent to Rs 2,04,018 crore at the end of the quarter ended June 2022. It was Rs 1,59,057 crore in the corresponding quarter of the last financial year.
Decline in NPAs
Bajaj Finance’s gross non-performing assets (NPA) declined by 1.25 per cent and net NPA to 0.51 per cent in the quarter under review. It stood at 2.96 per cent and 1.46 per cent respectively in the same quarter of the previous financial year. The company’s stock closed at Rs 6,393.75 on Wednesday with a gain of 2.14 per cent on the BSE.