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Bajaj Finance reports highest-ever quarterly net profit at Rs 1,195 crore in Q1

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

Published: 25th July 2019 04:12 PM  |   Last Updated: 25th July 2019 04:12 PM   |  A+A-

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Image for representational purpose only. (Photo | Sindhu Chandrasekaran)

By PTI

NEW DELHI: Bajaj Finance on Thursday reported its highest-ever quarterly consolidated net profit to Rs 1,195 crore during the first quarter ended June 30, up by 43 per cent 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 per cent 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.

On a standalone basis, the net profit in the quarter increased 35 per cent to Rs 1,125 crore, from Rs 834 crore in the year-ago quarter.

Income jumped 40 per cent to Rs 5,305 crore as against Rs 3,792 crore. While the net interest income grew 43 per cent 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 per cent 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 value of USD 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 per cent from the previous close.

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