Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Bajaj Finance posts highest ever quarterly consolidated profit of Rs. 836 crore

Posted On: 2018-07-19 16:41:45

A meeting of the Board of Directors of Bajaj Finance Limited (BFL) was held today to consider and approve the unaudited standalone and consolidated results for the quarter ended 30 June 2018.

Bajaj Finance Limited now conducts its mortgage business through a 100% subsidiary called Bajaj Housing Finance Limited (BHFL) which is registered with National Housing Bank as a Housing Finance Company. BHFL has become fully operational effective February 2018 with all new mortgage business now being done through it. The consolidated results of the Company include the results of BHFL.

The Company has adopted Indian Accounting Standards (lnd AS) for FY19 with lnd AS compliant comparatives for FY18. Accordingly, figures for previous year / periods have been recast and reviewed by statutory auditors as per new accounting standards.

Consolidated Performance Highlights

- New loans booked during 01 FY19 increased by 49% to 5.63 million from 3.77 million in Q1 FY18.
- Customer franchise as of 30 June 2018 increased by 30% to 28.28 million from 21.69 million as of 30 June 2017.
- Assets under Management (AUM) as of 30 June 2018 grew by 35% to Rs. 93,314 crore from Rs. 68,945 crore as of 30 June 2017. Adjusted for short term IPO financing book of Rs. 2,021 crore in AUM of 30 June 2017, the overall AUM growth was 39%.

- Total income for 01 FY19 was up by 39% to Rs. 3,941 crore from Rs. 2,834 crore in Q1 FY18.
- Loan losses and provisions for Q1 FY19 were Rs. 327 crore as against Rs. 305 crore in Q1 FY18.
- Profit after tax for Q1 FY19 grew by 81% to Rs. 836 crore from Rs. 461 crore in Q1 FY18.
- Gross NPA and Net NPA, recognized as per extant RBI prudential norms and provisioned as per Expected Credit Loss (ECL) method prescribed in lnd AS, as of 30 June 2018 stood at 1.39% and 0.44% respectively. The provisioning coverage ratio stood at 69%. Standard assets provisioning has increased to 89 bps as a result of ECL provisioning under Ind AS versus 40 bps per RBI prudential norms.

Bajaj Finance Limited - Standalone Performance Highlights

- Assets under Management (AUM) as of 30 June 2018 grew by 25% to Rs. 86,042 crore from Rs. 68,945 crore as of 30 June 2017.
- Total income for Q1 FY19 was up by 34% to Rs. 3,796 crore from Rs. 2,827 crore in Q1 FY18.
- Loan losses and provisions for Q1 FY19 were Rs. 321 crore as against Rs. 305 crore in Q1 FY18.
- Profit after tax for Q1 FY19 grew by 83% to Rs. 834 crore from Rs. 456 crore in Q1 FY18.
- Capital adequacy ratio (including Tier-II capital) as of 30 June 2018 stood at 23.04%. The Tier-1 capital stood at 17.92%.

Bajaj Housing Finance Limited - Performance Highlights

- Assets under management (AUM) stood at Rs. 7,272 crore as on 30 June 2018. BHFL added Rs. 3,683 crore of AUM in the quarter ended 30 June 2018.
- Total revenue for Q1 FY19 was Rs. 145 crore.
- Profit after tax for 01 FY19 was Rs. 2 crore
- Capital adequacy ratio (including Tier-II capital) as of 30 June 2018 stood at 28.54%

Shares of Bajaj Finance Limited was last trading in BSE at Rs.2517.6 as compared to the previous close of Rs. 2488.05. The total number of shares traded during the day was 299386 in over 14579 trades.

The stock hit an intraday high of Rs. 2535.5 and intraday low of 2360. The net turnover during the day was Rs. 737677949.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

TECIL Chemicals & Hydro Power Ltd calls for board meeting on Oct 26, 2018

Hester Biosciences Ltd board to consider Q2 results on Oct 29, 2018

IP Rings Ltd calls for board meeting on Nov 1, 2018

Majesco Ltd board to announce Q2 FY19 results on Nov 5, 2018

Havells India Ltd Q2 net profit climbs to Rs. 178.62 crores

Wall Street Finance Ltd board to consider Q2FY19 results on Nov 1, 2018

Varun Beverages Ltd board to announce second quarter results on Ot 25, 2018

Diamines & Chemicals Ltd board to approve 2nd quarter results on Oct 26, 2018

Cochin Minerals & Rutile Ltd calls for board meeting on Nov 14, 2018

Thangamayil Jewellery Ltd board to consider Q2 results on Nov 9, 2018

Cyient Ltd Board declares Interim Dividend of Rs. 6 for 2018-19

Solara Active Pharma Sciences Ltd board to approve Q2 results on Oct 30, 2018

Google Pixel 3 and 3XL come to Airtel Online Store

Ramco Systems teams up with Airbus Helicopters

ATV Projects India Ltd calls for board meeting on Oct 29, 2018

iGTB Oxford School of Transaction Banking Huge Success on First-Time Visit to Asia

ABB wins Rs. 115 crore transformer order from Indian Railways

Mindtree Ltd Q2 FY19 net profit surges to Rs. 206.3 crores

Cyient Ltd Q2 FY19 net profit up at Rs. 127 crores

Responsive Industries Ltd Q2FY19 PAT zooms to Rs. 18.40 crores

Aditya Birla Money Ltd Q2 consolidated net profit higher at Rs. 2.36 crore

NIIT Technologies Q2FY2019 PAT up 66.3% YoY

Sayaji Industries Ltd board to consider Q2 results, stock split

GP Petroleums Ltd board to approve second quarter results on Oct 29, 2018

Excel Crop Care Ltd board to announce 2nd quarter results on Nov 2, 2018

Mahindra and Ford Sign Agreements on Powertrain Sharing and Connected Car Solutions

Zydus receives final approval from the USFDA for Clobetasol Propionate Cream

I-Power Solutions India Ltd to consider amalgamation

Quess Corp Ltd board to consider Q2 results on Oct 25, 2018

SQS India BFSI Ltd board to consider second quarter results on Oct 25, 2018

Ballarpur Industries Ltd board to approve quarterly results on Oct 29, 2018

Rama Phosphates Ltd launches new product

D B Realty Ltd board to consider 2nd quarter results on Oct 26, 2018

Larsen & Toubro Ltd board to announce Q2 results on Oct 31, 2018

Sutlej Textiles & Industries Ltd board to approve Q2 results on Nov 13, 2018

JSL Industries Ltd calls for board meeting on Oct 26, 2018

Security and Intelligence Services India Ltd to acquire 80% in Rare Hospitality

PVR Ltd board to consider Q2 FY19 results on Oct 25, 2018

Salzer Electronics Ltd board to announce Q2, H1 FY19 results on Oct 27, 2018

Creative Eye Limited's prestigious serial 'ISHQ SUBHAN ALLAH' wins award

TVS Electronics Ltd board to consider second quarter results on Nov 2, 2018

TRF Ltd board to approve 2nd quarter results on Oct 26, 2018

Power Finance Corporation Ltd board to announce Q2 results on Nov 2, 2018

Sequent Scientific Ltd calls for board meeting on Nov 2, 2018

Sang Froid labs India Limited receives drug licence

Sonata Software Ltd fixes Nov 14, 2018 as record date for interim dividend

NIIT Technologies Ltd Q2 consolidated PAT rises to Rs. 116.7 crores

VST Industries Ltd board to announce 2nd quarter results on Nov 1, 2018

Foseco India Ltd calls for board meeting on Oct 26, 2018

Aurionpro signs Strategic Investment Deal in the Smart Transport System Domain







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018