Bajaj Finance attains new heights in the second quarter, shatters estimates!

Bajaj Finance stated that the company saw 66% growth in its profit for the second quarter (ended this September) of FY20 taking the profits to Rs. 923.47 crores for the quarter. The share price of the company saw a growth of 2%, taking to the price of Rs. 4,219 once the announcement was made.

Below are the highlights of Q2 earnings enjoyed by Bajaj Finance

  • Consolidated assets under management saw a rise of 38%, now the assets are worth Rs. 1,35,533 crores compared to Rs. 98,000 crores in Q2 of FY19.
  • Number of new loans increased by 23% to 64.7 lakhs from 52.6 lakhs in 2nd quarter of FY19.
  • Income from Interest rose by 48% to Rs. 3,999 crores from Rs. 2,708 crores in FY19’s Q2.
  • There was a drop in operating expenses to net interest income of 0.9% from 35.4% in Q2 FY19 to 34.6% in Q2 FY20.
  • Total revenue rose to Rs. 6,322.55 crores in Q2 FY20 (surge of 47.95%)
  • However the company saw Rs. 594 crores in Loan Losses and Provisions for Q2 fo FY20 as compared to Rs. 315 crores in Q2 of FY19.
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Xploringindia is a administrator who has a keen interest in politics, fashion, and lifestyle. She is a post-graduate in Economics and loves to listen to classic old Hindi songs and travel to new places in her leisure time. Her writing is well researched, covering important aspects and core of the topic covering crucial points.
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