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Bajaj Finance Q2 profit rises 63% YoY to Rs 1,506 crore, beats Street estimates

Analysts in an ETNow poll had projected a net profit of Rs 1,431 crore.

ETMarkets.com|
Oct 22, 2019, 01.33 PM IST
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Assets under management (AUM) increased 38 per cent YoY to Rs 1.35 lakh crore in the September quarter over Rs 98,013 crore in the same period last year.
Bajaj Finance on Tuesday posted a 63.11 per cent year-on-year (YoY) rise in net profit at Rs 1,506.29 crore for the quarter ended September 2019. The NBFC had posted a net profit of Rs 923.47 crore in the corresponding quarter last year.

Analysts in an ETNow poll had projected a net profit of Rs 1,431 crore.

Total revenue from operations increased 47.95 per cent YoY to Rs 6,322.55 crore during the quarter under review.

Gross non-performing assets (NPA) and net NPA stood at 1.61 per cent and 0.65 per cent, respectively, in Q2FY20. The provisioning coverage ratio as of September 30 was 60 per cent.

Capital adequacy ratio (including Tier-11 capital) stood at 19.68 per cent as of September 30. The Tier I capital stood at 15.86 per cent.

Assets under management (AUM) increased 38 per cent YoY to Rs 1.35 lakh crore in the September quarter over Rs 98,013 crore in the same period last year.
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