Bajaj Finance September Quarter Profit Falls 36% To ₹ 965 Crore

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Bajaj Finance on Wednesday reported a net profit of ₹ 964.88 crore in the July-September period, marking a fall of 35.94 per cent compared to the corresponding period a year ago. In a regulatory filing, the non-banking financial company said its total income came in at Rs 6,523.29 crore in the second quarter of current financial year, up 3.17 per cent from the year-ago period. Shares in Bajaj Finance ended 0.88 per cent lower at Rs 3,233.25 apiece on the BSE, having declined as much as 4.92 per cent after the announcement during the session.   

Pune-based Bajaj Finance said the coronavirus pandemic, which has affected several countries including India, and the consequent lockdown has considerably impacted its group business operations in the April-September period.

The pandemic has also resulted in a significantly lower business acquisition and put constraints on recovery of overdues from customers, the company said.

Net interest income – a measure of profitability – increased 4.13 per cent to ₹ 4,165 crore in the quarter ended September 30. 

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