Net interest income (NII) for the quarter jumped 28 per cent to Rs 5,335 crore compared with Rs 4,162 crore in the same quarter last year. Interest income reversal for the quarter was Rs 322 crore as compared to Rs 216 crore year-ago, the NBFC said.
“During the quarter, the company has done accelerated write-offs of Rs 355 crore of principal outstanding on account of Covid-19 related stress and advancement of write off policy. The company holds management and macro-economic overlay of Rs 832 crore as of September 30,” Bajaj Finance said in an exchange filing.
The NBFC said its gross NPA stood at 2.45 per cent at the end of the September quarter compared with 2.96 per cent at the end of the June quarter.
For the quarter, 6.33 million new loans were booked compared with 3.62 million in the year-ago quarter. Customer franchise stood at 52.80 million as of September 30, up 20 per cent over 44.11 million YoY. The NBFC’s customer franchise increased 2.35 million in Q2 against 1.16 million YoY.
The NBFC’s assets under management (AUM) climbed 22 per cent YoY to Rs 1,66,937 crore from Rs 1,37,090 crore in the same quarter last fiscal. The core AUM growth for the quarter was approximately Rs 11,150 crore, Bajaj Finance said.
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