Bajaj Finance reports steady improvement in AUM

Bajaj Finance Limited reported its Q3FY18 results on Thursday. The earnings for the quarter reported steady improvement in overall AUM and robust bottom-line growth.

For the quarter, NII rose by 17.3 per cent qoq and 33.5 per cent yoy to Rs. 2,280 crore compared to Rs. 1,709 crore in previous year corresponding quarter. The AUM as of December 31, 2017 was 33 per cent to Rs. 76,384 crore from Rs.57,605 crore as of Q3FY17.

Gross NPA and Net NPA as of Q3FY18 stood at 1.67 per cent and 0.53 per cent, respectively. The provisioning coverage ratio stood at 68 per cent as of Q3FY18. The loans disbursed for the quarter rose by 58 per cent yoy to Rs.4536 crore vs Rs.2880 crore in previous year corresponding quarter. Further, the loan loss provision also increased by 40 per cent to Rs. 247 crore compared to Rs. 176 crore in the previous year corresponding quarter.

The resultant bottom-line for the quarter rose by 38 per cent yoy to Rs.767 crore in Q3FY18 compared to Rs. 556 crore in Q3FY17. The stock closed 5 per cent up at Rs. 1,761 mark.