(Aditya Shaw, Intern Journalist): Bajaj Finance reported a net profit of Rs 962 crore in the first quarter of the current financial year. The profit was Rs 1,195 crore in the same quarter a year ago. In comparison, this time the profit is 9.40 percent less. The new loan decreased by 76 percent in the first quarter. It stood at 1.75 million compared to 7.27 million in the June quarter a year ago.
AUM up 7 percent at Rs 1.38 lakh crore
On Tuesday, the company released the financial results. The company said that its business operations in the first quarter of FY 2021 were impacted by Covid-19. However, it may remain affected in the current quarter. The Asset Under Management (AUM) of the company has increased by 7 percent to Rs one lakh 38 thousand 55 crores during the same period. The NBFC sector company said that its moratorium books have come down to Rs 21,705 crore.
It was Rs 38,599 crore in April. That is, it has come down from 15 percent to 27 percent of total AUM in April.
Liquidity Surplus 17,700 Crore
The company said its NII grew by 12 percent to Rs 4,152 crore. During the quarter, the company has raised an additional provision of Rs 1,450 crore for Covid-19. Bajaj Finance has a liquidity surplus of about Rs 17,700 crore till June 30. The company’s gross NPA stood at 1.40 percent while net NPA stood at 0.50 percent. It has decreased compared to the same quarter a year ago.
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