New Delhi (Anish Yande): Shares of Bajaj Finance fell by 2 per cent on Wednesday's trading session following the announcement of robust quarterly results in 2021 which missed investor expectations. Bajaj Finance shares opened at Rs 6,020 per share from its previous close of Rs 6,015 per share on Monday. The shares of the finance company rose to an intraday high of Rs 6,027 per share. The market cap of the company rose to Rs 358,646 crore.
Bajaj Finance Q1 profit rises:
Bajaj Finance reported a consolidated net profit of Rs 962 crore in the corresponding quarter last year. The finance company's consolidated net profit increased to Rs 1,002 crore for the quarter ended June 30. The Q1 net profit rose by 4.2% on a year-on-year basis.
The total income of Bajaj Finance rose to Rs 6,743 crore in Q1 FY22. Total income was at Rs 6,650 crore in the same period last year. The consolidated revenue from operations increased by 1.4 per cent on a year on year basis.
The consolidated net interest income of Bajaj Finance is up by 8 per cent to Rs 4,489 crore in June 2021 quarter as compared to the net interest income of the finance company in June 2020.
Bajaj Finance AUM rises 15 percent in June quarter:
Asset under the management of Bajaj Finance rose 15 per cent to Rs 1.59 lakh crore, as compared to Rs 1.38 lakh crore in the June quarter of 2020. Loan losses and provisions of Bajaj Finance rose to Rs 1,724 crore in the June quarter of 2021 from Rs 1,641 crore in the year-ago quarter.
The finance company's new loans booked rose to 46.3 lakh in the June quarter of 2021, as compared to 17.5 lakh in the corresponding quarter of the previous year.
Bajaj Finance had acquired 1.88 million new customers in Q1 FY22 as compared to 0.53 million in Q1FY21. The finance company’s consolidated deposit book rose by 39 per cent in the June quarter to Rs 29,972 crore.
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