Bajaj Finance Ltd (BFL) on Wednesday reported highest ever quarterly consolidated net profit at Rs 1,614 crore in December 2019 quarter on the back of healthy interest income.
The non-banking finance company posted a 52% jump in Q3 net profit as compared with Rs 1,060 crore in the year-ago quarter.
Total income of the company grew 41% to Rs 7,026 crore for October-December of 2019-20 as against Rs 4,992 crore in year ago period, Bajaj Finance said.
The net interest income was up by 42% at Rs 4,537 crore from Rs 3,206 crore. While the interest income increased by 39% to Rs 6,105 crore from Rs 4,387 crore in Q3 of 2018-19.
The company's asset under management (AUM) as on December 31, 2019, rose to Rs 1,45,092 crore, up 35% from Rs 1,07,507 crore.
New loans booked in terms of volume increased 13% to 76.7 lakh from 67.7 lakh, it added.
The consolidated figures of BFL include the results of its wholly-owned subsidiaries Bajaj Housing Finance Ltd (BHFL) and Bajaj Financial Securities Ltd.
From 2019-20, BFL and its subsidiary BHFL have opted for the reduced rate of 25.17% for computation of income tax as per recently inserted section of the Income Tax Act, 1961, the company said.
Gross non-performing assets (NPA) and net NPA as on December 31, 2019, stood at 1.61% and 0.70%, respectively.