Bajaj Finance Q3 result

Bajaj Finance Q3 result was declared today and it was 84.4 percent year-on-year growth in net profit at Rs. 1,933.9 crore for the quarter ended December, which was higher than analysts’ estimate.

“A very good quarter and the company is very well positioned to navigate wave three of the pandemic,” said Rajeev Jain, managing director at Bajaj Finance in an investor call.

On the revenue front, the fee business did well for the company as it grew 54 percent on-year to Rs. 1,146 crore. On the interest side, income grew 27 percent on year to Rs. 6,335 crore.

Cost of funds for the company declined to 6.72 percent from 6.77 percent in the previous quarter.

Bajaj Finance said that competitive intensity across products has increased rapidly after the second wave of the pandemic. “So far, the company has been able to protect its margin profile across businesses,” Bajaj Finance said.

Bajaj Finance’s gross non-performing loans ratio declined to 1.73 percent as against 2.45 percent in the previous quarter. Similarly, net NPA ratio fell to 0.78 percent in the reported quarter from 1.1 percent in the previous quarter.