Bajaj Finance posts steady performance in Q1FY18

Bajaj Finance reported strong results for the quarter ended Q1FY19 with strong growth of 35 per cent YoY in advances.

The net interest income for the quarter rose by 42.4 per cent YoY to Rs 2497 crore in Q1FY19 vs Rs 1794 crore in the corresponding quarter previous year. This was largely due to increase of 34 per cent YoY in interest income for the quarter to Rs.3791 crore.

The provisions for the quarter rose 5.2 per cent QoQ and 40 per cent YoY to Rs 321 crore in Q1FY19 and Rs 305 crore in Q1FY18. Further, the net profit for the quarter also rose by 82 per cent YoY and 12.3 per cent QoQ to Rs 833 crore vs Rs 456 crore, respectively, in Q1FY18.

The advances for the quarter rose to Rs.93314 crore, up by 35 per cent YoY. The GNPAs and advances stood at 1.39 per cent and 0.44 per cent, respectively, in Q1FY19.

The stock closed 1.19 per cent up at Rs 2517 .