20 Jul , 2021 By : Kanchan Joshi
Bajaj Finance's consolidated net profit for the first quarter of FY22 came at Rs1,002 crore, up 4% as compared to Rs962 crore in the same quarter last year. Its Net Interest Income (NII), the difference between interest earned and interest expended, for Q1FY22 increased by 8% to Rs4,489 crore as against Rs4,152 crore in the year ago quarter, the financial services company's quarterly results showed on Tuesday.
Its asset quality remained under pressure as the gross non performing assets (NPA) and Net NPA as of 30 June 2021 stood at 2.96% and 1.46% respectively, as against 1.79% and 0.74% quarter-on-quarter. Loan losses and provisions for the quarter was Rs1,750 crore as against Rs1,686 crore in the corresponding quarter of the previous fiscal.
The assets under management (AUM) grew by 15% to Rs159,057 crore as of 30 June 2021 from Rs138,055 crore as of 30 June 2020. Core AUM growth in Q1 FY22 was approximately at Rs4,100 crore.
Shares of Bajaj Finance closed over 1% lower at Rs5,938 per share on the BSE on Tuesday.
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