Bajaj Finance Q4 net profit up 11% on higher interest income
Moneylife Digital Team 15 May 2014
For the March quarter, the Bajaj group financial unit reported a net profit of Rs182 crore, as its net interest income grew 25%
 
Bajaj Finance Ltd reported a higher fourth quarter net profit mainly on robust revenues, including interest income. 
 
For the quarter to end-March, Bajaj Finance said its net profit increased 11% to Rs182 crore from Rs164 crore, while its total revenues, including interest income, grew 30% to Rs1,095 crore from Rs842 crore, a year ago period.
 
During the quarter, the private sector lender said its NII (net interest income) increased 25% to Rs645 crore from Rs515 crore of FY13.
 
Bajaj Finance said its total advances increased 38% to Rs7,042 crore while it made 38% more loan losses provisions of Rs62 crore from Rs45 crore, same period last year.
 
Bajaj Finance acquired 768 (23% more) new customers during march quarter. It also launched a fixed deposit programme as an anchor wealth management product in March quarter and raised over Rs200 crore from 7,300 customers in less than 90 days. 
 
As on 31 March 2014, Bajaj Finance's capital adequacy ratio (CAR) stood at 19.13%, gross non performing assets ratio (GNPAs) stood at 1.18%, while its net non-performing assets stood at 0.28%.
 
Bajaj Finance declared a final dividend of Rs16 per share.
 
Earlier this week, Bajaj Finance hit its 52-week high at Rs1,910 on BSE. 
 
On 2.41pm Thursday, Bajaj Finance was trading about 5% down at Rs1,720 on the BSE, while the 30-share Sensex was marginally up at 23,836.
 
For more stock results, check out this page
Comments
Free Helpline
Legal Credit
Feedback