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

| More

Bajaj Finance Ltd reports highest ever quarterly consolidated profit of Rs. 1,506 crore

Posted On: 2019-10-22 15:01:47


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 September 2019. The consolidated results of BFL include the results of its wholly owned subsidiaries viz. Bajaj Housing Finance Limited (BHFL} and Bajaj Financial Securities Limited (BFinsec).

CONSOLIDATED PERFORMANCE HIGHLIGHTS

- Consolidated assets under management - Rs. 135,533 crore v/s Rs. 98,013 crore, Up 38%
- Consolidated profit after tax - Rs. 1,506 crore v/s Rs. 923 crore, UP 63%
- New loans booked during Q2 FY20 increased by 23% to 6.47 million from 5.26 million in Q2 FY19.
- Customer franchise as of 30 September 2019 increased by 29% to 38.70 million from 30.05 million as of 30 September 2018.
- Assets under management (AUM) as of 30 September 2019 grew by 38% to Rs. 135,533 crore from Rs. 98,013 crore as of 30 September 2018.
- Net Interest Income for Q2 FY20 was up by 48% to Rs. 3,999 crore from Rs. 2,708 crore in Q2 FY19.
- Total operating expenses to net interest income for Q2 FY20 was 34.6% against 35.4% in Q2 FY19.
- Loan losses and provisions (expected credit loss) for Q2 FY20 was Rs. 594 crore as against Rs. 315 crore in Q2 FY19.
- Profit after tax for Q2 FY20 grew by 63% to Rs. 1,506 crore from Rs. 923 crore in Q2 FY19.

Pursuant to The Taxation Laws (Amendment) Ordinance 2019, promulgated on 20 September 2019, the Company and one of its subsidiary viz. BHFL intends to exercise the option permitted u/s 115BAA of the Income Tax Act, 1961 to compute income tax at the revised rate (i.e. 25.17%) from the current financial year. Accordingly, a net benefit of Rs. 1 crore is recognised in the consolidated profit after tax for the quarter ended 30 September 2019. This was a result of the gain arising due to the reduction in income tax rate amounting to Rs. 183 crore for the quarter ended 30 June 2019 offset by a charge on account of re-measurement of deferred tax assets amounting to Rs. 182 crore.

- Gross NPA and Net NPA, recognized as per extant RBI prudential norms and provisioned as per expected credit loss (ECL) method prescribed in Ind AS, as of 30 September 2019 stood at 1.61% and 0.65% respectively. The provisioning coverage ratio as of 30 September 2019 was 60%. Standard assets provisioning (ECL stage 1 and 2) was 91 bps under Ind AS versus about 40 bps as per RBI and NHB prudential norms
- Capital adequacy ratio (including Tier-II capital) as of 30 September 2019 stood at 19.68%. The Tier-I capital stood at 15.86%.

Shares of Bajaj Finance Limited was last trading in BSE at Rs.4138.05 as compared to the previous close of Rs. 4105.2. The total number of shares traded during the day was 125182 in over 6606 trades.

The stock hit an intraday high of Rs. 4200 and intraday low of 4082.8. The net turnover during the day was Rs. 519272767.


Source: Equity Bulls

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





Other Headlines:

Apollo Tyres aims for leadership in premium two-wheeler segment in India

Jaysynth Dyestuff India Ltd Board recommends Dividend of Rs. 0.15 for FY20

Jio Platforms receives over Rs. 1.5 lakh crore investment in 3 months

World Youth Skills Day: TCS iON Launches Youth Employability and Entrepreneurship Programme

ICICI Securities Primary Dealership Ltd Q1FY21 net profit surges to Rs. 345.08 crore

Federal Bank Ltd Q1FY21 consolidated PAT higher at Rs. 409.50 crore

Google to invest Rs. 33,737 crore in Jio Platforms Ltd

Indian Metals & Ferro Alloys Ltd postpones board meeting to July 27, 2020

Trigyn awarded - National Cooperative Purchasing Alliance (NCPA) - IT Services Contract

IFGL Refractories Ltd board to consider Q4FY20, FY2020 results, final dividend on July 18, 2020

Bandhan Bank Ltd reports Q1FY21 net profit of Rs. 549.81 crore

TCS Now Second Largest Among UK Software and IT Services Companies

Zydus Cadila receives final approval from USFDA for Betamethasone Dipropionate Ointment

Tata Consumer Products Ltd board to approve Q1FY21 results on Aug 4, 2020

Maruti Suzuki to proactively recall 134,885 units of WagonR and Baleno

NELCO Ltd board to approve quarterly results on July 31, 2020

Sonata Software Ltd board to announce 1st quarter results on Aug 10, 2020

Steel Strips Wheels Ltd bags news orders for mobile home market from USA

Havells India Ltd board to consider Q1FY21 results on July 27, 2020

Zydus starts the Human Dosing for Adaptive Phase I & II clinical trials

Chinese firm announces open offer to acquire shares of Thirdwave Financial Intermediaries Limited

Majesco Enables United Educators Digital Transformation Journey

Aarti Surfactants Ltd FY20 PAT at Rs. 2.09 crore

ICRA Limited Board approves audited financial results for Q4, FY2020

Oriental Hotels Ltd board to approve first quarter results on July 28, 2020

Indiamart Intermesh Ltd board to announce quarterly results on July 21, 2020

Bharti Infratel Ltd board to consider 1st quarter results on July 27, 2020

Monnet Ispat & Energy Ltd board to approve Q1FY21 results on July 21, 2020

ICRA Ltd Board approves Dividend of Rs. 27 for FY20

Vanguard and Infosys announce strategic partnership

India Ratings Downgrades HEG to 'IND AA-'/Stable

Prestige Estates subsidiary acquires equity stake in DB (BKC) Realtors Private Limited

Gujarat Hotels Ltd posts Rs. 0.87 crore PAT in Q1FY21

Oberoi Realty Ltd Q1FY21 consolidated PAT slides to Rs. 28.07 crore

YES Bank approves allocation of 3,415,384,614 Equity Shares to anchor investors

National Peroxide Ltd Board approves dividend of Rs. 12.50

Oberoi Realty Ltd board approves fund raising proposals

Suzlon Energy Limited allots 51,19,92,560 shares

CreditAccess Grameen Limited board to consider terms of NCD issue on July 17, 2020

IDFC First Bank Ltd board to announce Q1FY21 results on July 28, 2020

Oberoi Realty Ltd Q4FY20 consolidated PAT climbs to Rs. 250.96 crore

National Peroxide Ltd Q4FY20 net profit at Rs. 3.03 crore

AAI, BEL sign MoU for co-operation in Civil Aviation industry

Godrej Properties Ltd board to announce Q1FY21 results on Aug 5, 2020

Hero MotoCorp announced as the Title Partner of Hero Open

Opto Circuits India Ltd sinks to FY2020 loss of Rs. 1367.86 crore

Emami group completes stake sale in Emami Cement

ICICI Securities Ltd board to approve 1st quarter results on July 22, 2020

Chambal Fertilisers & Chemicals Ltd board to announce Q1FY21 results on July 29, 2020

Salasar Techno Engineering Ltd updates on tower supply agreement







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

disclaimer copyright © 2005 - 2019