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Bajaj Finance consolidated profit drops 19% in Q4 on covid-19 provisions

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Mumbai: Consumer durables lender Bajaj Finance Ltd on Tuesday reported a 19.4% year-on-year (y-o-y) decline in consolidated net profit to ₹948.1 crore owing to covid-19 provisions of ₹900 crore.

Bajaj Finance’s net interest income (NII) surged 38% y-o-y to ₹4,684 crore in the March quarter. The other large component of its revenues was in the form of fees and other income of ₹929 crore, up 45% from the same period last year.

The consolidated results of Bajaj Finance include the earnings of its wholly-owned subsidiaries -- Bajaj Housing Finance Ltd (BHFL) and Bajaj Financial Securities Ltd (BFinsec).

The non-banking financial company (NBFC) said due to the covid-19 pandemic and the consequent lockdown, the company lost 10 productive days in

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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