Bajaj Finance on Tuesday reported a sturdy set of numbers, posting internet revenue of Rs 2,420 crore for the three months to March, a whopping rise of 80% year-on-year. With this the Pune-based Non Banking Monetary Firm (NBFC) exits FY22 on a excessive observe.
The revenue after tax for the 12 months to March stood at Rs 7,028 crore, a bounce of 59%. The consolidated property below administration (AUM) grew by 29% to Rs 1.97 trillion on the finish of March 2022, a rise of 29%.
The great efficiency was accompanied by enhancing asset high quality. The lender’s gross NPAs and internet NPAs, on the finish of March 2022, got here in at 1.60% and 0.68% respectively, as in opposition to 1.79% and 0.75% as of March 2021. Mortgage losses and provisions for This autumn FY22 have been Rs 702 crore as in opposition to Rs 1,231 crore in This autumn FY21. “The corporate holds a administration and macro-economic overlay of Rs 1,060 crore as of March 31, 2022,” an organization launch mentioned.
Enterprise was robust in the course of the quarter, as seen within the progress of the online curiosity earnings which elevated by 30% y-o-y to Rs 6,068 crore. The lender’s new loans grew a sensible 15%; The lender’s capital adequacy ratio (together with Tier-II capital) as of March 2022 was 27.22%. The Tier-I capital stood at 24.75%.
The Bajaj Finance administration highlighted that the quarter had been a wonderful one by which the steadiness sheet had grown and the portfolio high quality and profitability had additionally been good. “Omnipresence agenda continued to speed up in This autumn. Total, enthusiastic about FY23 prospects,” it added.