Bajaj Finance Q4 profit falls 19% to 948 crore as provisions surge

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  • Post last modified:May 26, 2020
Bajaj Finance Q4 profit falls 19% to 948 crore as provisions surge

  • NBFC major announced PAT of Rs 948 crore for Q4 FY20 against Rs 1171 crore for the same period in FY19.
  • The company made provisions of Rs 1,954 crore in Q4FY19 against Rs 410 crore in Q4FY19.
  • AUM decreased by Rs 4,500 crore in the last 10 days of Q4FY20.
  • The share price of the company today closed 1.4% up at Rs 1,967.25.

Bajaj Finance Q4 profit fell to Rs 948 crore as provisions surge. NBFC’s asset under management rose 27% on YoY. The NPA ratio was 0.64 percent while gross NPA stood at 1.61%.

Loan losses and provisions for Q4FY20 increased to Rs 1,954 crore against Rs 410 crore in Q4FY19. The company’s net interest income was up by 38% on YoY to Rs 4,684 crore. New loans booked increased by 3% to 6.04 million from 5.84 million during the same period in FY19.

The company lost 10 productive days in Q4FY20 resulting in lower acquisition of 1 million accounts and lower asset under management of Rs 4,500 crore. Consolidated AUM grew by 27% to Rs 1,47,151 crore as compared to the last year.

The NBFC reported growth of 32% in consolidated profit at Rs 5,265 crore for the financial year 2020. The company said its liquidity position remains very strong having a surplus of Rs 15,725 crore as of March 2020.

The share price of the company today closed 1.4% up at Rs 1,967.25 while the BSE Sensex closed at 30,196, up by 0.56%. The share price of the company has fallen 40% in a year and 48% during the March quarter.

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