Shares of Pune-based non-bank finance company Bajaj Finance rose 3.51% to an intraday high of Rs 5,036 on the National Stock Exchange a day after releasing results for the March quarter. Bajaj Finance’s net profit in the January-March quarter amounted to Rs 1,346.64 crore, which marked a 42 percent increase in profit to Rs 948 crore in the same quarter of last year. For fiscal year 2020-21, Bajaj Finance’s net profit amounted to Rs 4,420 crore.
Bajaj Finance’s total operating income decreased 5 percent to Rs 6,850.62 crore due to fees and commission income.
New loans registered in the last quarter of fiscal year 2020-21 amounted to 54.7 lakh compared to 60.3 lakh in the same quarter last year. The customer franchise as of March 31, 2021 was 48.57 million compared to 42.60 million as of March 31, 2020. The company acquired 2.26 million new customers in Q4 FY21 compared to 1.85 million in Q4 FY20, said Bajaj Finance in a press release.
Bajaj Finance’s net interest income (NII) for Q4 FY21 was Rs 4,659 crore compared to Rs 4,684 crore in Q4 FY20. The reversal in interest income for the quarter was Rs 298 crore compared to Rs 122 crore in Q4 FY20.
Gross NPA and Net NPA as at March 31, 2021 were 1.79% and 0.75% respectively, compared to 1.61% and 0.65% as at March 31, 2020. The Company has a provisioning coverage ratio 58% on phase 3 assets and 181 basis points on phase 1 and 2 assets as of March 31, 2021, added Bajaj Finance.
At 10:26 am, Bajaj Finance shares were trading 2.81% higher at Rs 5,002, outperforming the stuff which was 0.65%.