Bajaj Finance Net Profit Falls 3% To Rs 843 Crore In April-June Quarter


Shares of Bajaj Finance settled 1.24 per cent lower at Rs 5,937.90 apiece on the BSE.

Financial services company Bajaj Finance announced its April-June quarter results for the financial year 2021-22, reporting a net profit of Rs 842.9 crore on a standalone basis, compared to Rs 869.50 in the corresponding quarter of the previous fiscal, marking a decline of three per cent year-on-year. The company’s total revenue from operations in the first quarter of the current fiscal stood at Rs 5,915.90 crore, compared to Rs 5,900.63 crore in the year-ago period.

- Advertisement -

Bajaj Finance reported a six per cent rise to Rs 4,153 crore in net interest income – the difference between interest earned and interest expended, in the June quarter, despite its operations being affected due to the second wave of the COVID-19 pandemic. The non-bank lender reported a net interest income of Rs 3,917 crore in the same quarter last year.

The assets under management (AUM) grew by 12 per cent to Rs 1,19,567 crore in the April-June quarter in the current fiscal, compared to Rs 1,06,584 crore in the year-ago period.

- Advertisement -

The company’s loan losses and provisions for the June quarter stood at Rs 1,724 crore, compared to Rs 1,641 crore in the year-ago period. Bajaj Finance holds a management overlay and macro provision of Rs 351 crore as of June 30,  2021, according to a regulatory filing by the company to the stock exchanges.

On Tuesday, July 20, shares of Bajaj Finance settled 1.24 per cent lower at Rs 5,937.90 apiece on the BSE. Bajaj Finance opened don the BSE at Rs 6,013, inching to an intra day high of Rs 6,028.80 and an intra day low of Rs 5868.45, throughout the trading session today. 


Source Link

- Advertisement -

Share

Latest Updates

Barrack And Michelle Obama’s Higher Ground Banner Boost Executive Team – Deadline

Higher Ground, President Barack Obama and Michelle Obama’s media company, has. made several new additions to its executive team. Joe Paulsen has been...

HBO Orders Pilot Script Based on Octavia Butler’s “Fledgling” from Sonya Winton-Odamtten & Jonathan I. Kidd

Yet another Octavia Butler adaptation is in the works. The late and great beloved sci-fi writer is finally getting the kudos she deserves...

‘The One And Only Dick Gregory’ Restores Legacy Of Comic, Activist – Deadline

It’s very early to be talking about documentary contenders for next year’s Emmys, but The One and Only Dick Gregory certainly should be...

Trending News

Barrack And Michelle Obama’s Higher Ground Banner Boost Executive Team – Deadline

Higher Ground, President Barack Obama and Michelle Obama’s media company, has. made several new additions to its executive team. Joe Paulsen has been...

HBO Orders Pilot Script Based on Octavia Butler’s “Fledgling” from Sonya Winton-Odamtten & Jonathan I. Kidd

Yet another Octavia Butler adaptation is in the works. The late and great beloved sci-fi writer is finally getting the kudos she deserves...

‘The One And Only Dick Gregory’ Restores Legacy Of Comic, Activist – Deadline

It’s very early to be talking about documentary contenders for next year’s Emmys, but The One and Only Dick Gregory certainly should be...

Love Woven In The Stars’ Release Date Set Via Funmation – Deadline

EXCLUSIVE: Funimation, which last year released the anime movie Demon Slayer: Mugen Train to great success at the global box office, has zeroed...

Woman Dead, Daughter Injured As Roof Of Shanty Collapses Due To Rains In Delhi

<!-- -->According to the fire department, a call about the house collapse was received at 4.45 pm.New Delhi: A 40-year-old woman died and...

India vs Sri Lanka 3rd T20I, Live Match Score: Sri Lanka On Top In The Final With Four Early Wickets

IND vs SL T20I Live: Sri Lanka on top as India are four wickets down while batting first in the 3rd T20I.© TwitterIndia...