Bajaj Finance reports highest-ever quarterly net profit at Rs 1,195 cr in Q1; total income jumps 47%

New Delhi: Bajaj Finance on Thursday reported its highest-ever quarterly consolidated net profit to Rs 1,195 crore during the first quarter ended 30 June, up by 43 percent from the year-ago period.

The company had posted a net profit of Rs 836 crore in the corresponding quarter of 2018-19.

Its total income (consolidated) rose 47 percent to Rs 5,808 crore during the June quarter of 2019-20, against Rs 3,938 crore a year ago, Bajaj Finance Ltd (BFL) said in a release.

 Bajaj Finance reports highest-ever quarterly net profit at Rs 1,195 cr in Q1; total income jumps 47%

Representational image. Reuters.

On a standalone basis, the net profit in the quarter increased 35 percent to Rs 1,125 crore, from Rs 834 crore in the year-ago quarter. Income jumped 40 percent to Rs 5,305 crore as against Rs 3,792 crore.

While the net interest income grew 43 percent to Rs 3,695 crore, compared with Rs 2,579 crore a year ago.

The company's consolidated asset under management at the end of June 2019 grew 41 percent to Rs 1.29 lakh crore, as against Rs 91,287 crore as at the end of June 2018.

"During the quarter, the company has established a secured euro medium-term note programme for the value of $1.50 billion on the Singapore Stock Exchange which it plans to raise in the near future. This will help the company further diversify and strengthen its liability profile," BFL said.

The consolidated results of BFL include results of its wholly-owned subsidiaries -- Bajaj Housing Finance and Bajaj Financial Securities Ltd.

Shares of Bajaj Finance traded at Rs 3,070.30, down 3.19 percent from the previous close.

Updated Date: Jul 25, 2019 15:49:32 IST