Menu
BW CFO World
Community for Finance Professionals, Consultants and allied businesses
  • Home
  • News
  • Videos
  • Articles
    • Credit & Capital
    • Economic Trends
    • Financial Compliance
    • Financial Leadership
    • Financial Management
    • Financial Reporting
    • Financial Strategy
    • Risk Management
    • Taxation
  • Featured
  • Nominate for Awards
Close Menu
accounting
October 20, 2022

Bajaj Finance Q2 Net Profit Surges To Rs 2,781 Cr

Urvi Srivastava Financial Reporting Bajaj Finance, net profit, profit

The gross non-performing asset ratio, a measure of asset quality, eased to 1.17 per cent at the end of September from 2.45 per cent in 2021

Bajaj Finance Ltd reported a record quarterly profit on Thursday, beating estimates on improved demand for loans and better asset quality. Consolidated profit rose 88 per cent to Rs 2,781 crore in the second quarter, ending on Sept. 30 2022, from Rs 1,481 crore 2021, the organisation said in an exchange filing.

Demand for credit is still at an all-time high, despite a series of interest rate hikes by RBI, as reported by banks and shadow lenders. As per IBES data, Bajaj Finance outperformed itself this quarter because the expected profit was Rs2,680 crore only. Its net interest income advanced by 31 per cent and new loans booked went up by 7 per cent. 

The gross non-performing asset ratio, a measure of asset quality, eased to 1.17 per cent at the end of September from 2.45 per cent in 2021. Meanwhile the company’s assets under management are a whopping Rs 2.18 trillion, up by 31 per cent. 

Urvi Shrivastav

→ Urvi Shrivastav

Union Bank Of India Releases Q2 FY23 Results CCI Fines MMT, Goibibo, OYO Rs 392 Cr For Unfair Biz Practices

Related Posts

Anurag Mishra CFO

Financial Reporting

JW Marriott New Delhi Appoints Anurag Mishra as Director of Finance

economy

Financial Reporting

Economy Remains Steady In Recent Months: PHD Chamber

20220714_125227

Financial Reporting

Infosys Reports Strong Growth In Q3, Revenues Jump To Rs 38,318 Cr

Selected Stories

  • Anurag Mishra CFOJW Marriott New Delhi Appoints Anurag Mishra as Director of Finance

    Read more

  • 1678170556_zXCK41_CFOBest CFO & Finance Strategy Awards: Navigating Through Uncertain Macroeconomic Environment

    Read more

  • economyEconomy Remains Steady In Recent Months: PHD Chamber

    Read more

  • 20220714_125227Infosys Reports Strong Growth In Q3, Revenues Jump To Rs 38,318 Cr

    Read more

  • 20211201_100953-1Tech Mahindra, Microsoft Collaborate To Deliver Cloud-powered 5G Core Network Modernisation For Telcos

    Read more

Movements

  • zUah2lDb_400x400Deloitte India Named Romal Shetty As CEO For Four-Year Term
  • cfo imageVishnuhari Pareek Named As Head Of Finance At Arkam Ventures
  • thumbnail_Sidharth1Siddharth Sehgal Is New CFO Of BeatO
  • Business men giving a handshake. Business conceptRamamurthy Becomes MD, CEO of BSE, SEBI approves appointment
  • 1554629557880Arvind Agarwal Resigns Nykaa, Joins PayU India As CFO

Categories

  • Accounting
  • CFO Stance
  • Credit & Capital
  • Economic Trends
  • Featured
  • Financial Compliance
  • Financial Leadership
  • Financial Management
  • Financial Reporting
  • Financial Strategy
  • Financial Technologies
  • Global News
  • Interview
  • Movements
  • Risk Management
  • Taxation

Recent Comments

    Back To Top
    BW CFO World
    • Home
    • News
    • Videos
    • Articles
      • Credit & Capital
      • Economic Trends
      • Financial Compliance
      • Financial Leadership
      • Financial Management
      • Financial Reporting
      • Financial Strategy
      • Risk Management
      • Taxation
    • Featured
    • Nominate for Awards
    © Copyright BW BUSINESSWORLD 2018. All Rights Reserved.