Bajaj Finance reported its highest ever consolidated profit after tax of Rs 2,973 crore in the third quarter of the current fiscal year (Q3FY23). It is 40 per cent higher than the profit of Rs 2,125 crore in the same quarter last year (Q3FY2). The asset under management (AUM) of the company was up 27 per cent to Rs 2.30 trillion as compared to Rs 1.81 trillion last year.
The new loans booked during the quarter were highest ever at 7.84 million. The profit before tax also rose 40 per cent to Rs 4,012 crore from Rs 2,868 crore in Q3FY22. The gross and net non-performing assets (NPAs) also fell during the quarter.
"Gross NPA and Net NPA as of December 31, 2022, stood at 1.14 per cent and 0.41 per cent respectively, as against 1.73 per cent and 0.78 per cent as of December 31, 2021. The Company has provisioning coverage ratio of 64 per cent on stage 3 assets and 116 bps on stage 1 and 2 assets as of December 31, 2022," the company s
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