Bajaj Finance July-September Profit Rises 23% On Year; Asset Quality Weakens Slightly

Bajaj Finance Ltd. on Monday reported a 23% on-year rise in consolidated net profit to ₹49.5 billion for the July–September quarter. Net interest income grew 22% on year to ₹107.9 billion, the company said in an exchange filing.

The company’s asset under management increased 24% on year to ₹4.62 trillion as of September. However, asset quality weakened marginally, with gross non-performing assets rising to 1.24% from 1.03% in the previous quarter, while net NPAs increased to 0.6% from 0.5%.

Both profit and revenue were broadly in line with market estimates, the Pune-based non-banking financial company said.