Bajaj Finance Q4 net profit up 36% to Rs 315 crore – Economic Times

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NEW DELHI: Bajaj Finance today reported a rise of 36.4 per cent in its standalone net profit to Rs 315.04 crore for the fourth quarter ended March 31, 2015-16.

Its net profit stood at Rs 230.98 crore in the corresponding January-March quarter of 2014-15.

“Total income has increased to Rs 1,957.45 crore for the quarter from Rs 1,445.05 crore for the same quarter a year ago,” Bajaj Finance said in a BSE filing.

The company said its loan losses and provisions for the quarter rose by 37 per cent to Rs 156 crore as against Rs 114 crore a year ago. It also made an additional provision of Rs 43.9 crore in one of its infrastructure lending account.

For the full fiscal 2015-16, Bajaj Finance’s net profit (standalone) increased by 42.4 per cent to Rs 1,278.52 crore as against Rs 897.87 crore in the previous fiscal.

Total income during the year increased to Rs 7,383.48 crore from Rs 5,418.23 crore, it said.

The gross Non-Performing Assets and net NPAs as of March 2016 stood at 1.23 per cent and 0.28 per cent respectively.

With a combined interim of Rs 18 and final dividend of Rs 7 per share, the aggregate dividend for the year stands at Rs 25 per share, it said.

The non-banking finance company is into consumer finance, two-wheeler loans, commercial lending and SME finance.

Shares of Bajaj Finance ended 0.67 per cent lower at Rs 7,599 apiece on BSE.

Bajaj Finance Q4 net profit up 36% to Rs 315 crore – Economic Times}