Bajaj Finance Q3 Profit Jumps 18% to Rs 4,308 Cr

New Delhi, Jan 29 (PTI) Bajaj Finance on Wednesday reported an 18 per cent increase in consolidated net profit to Rs 4,308 crore for the December quarter.

The company had reported a net profit of Rs 3,639 crore in the year-ago period.

Total income rose to Rs 18,058 crore for the third quarter of the ongoing fiscal year from Rs 14,166 crore in the year-ago period, Bajaj Finance said in a regulatory filing.

The consolidated assets under management improved 28 per cent to Rs 3,98,043 crore at the end of December 2024 compared to Rs 3,10,968 crore in the third quarter of last year.

Net interest income grew to Rs 9,382 crore as against Rs 7,655 crore in the third quarter of FY24.

However, gross non-performing assets (NPAs) of the company increased to 1.12 per cent from 0.95 per cent during the same period a year ago.

Net NPAs also rose to 0.48 per cent as compared to 0.37 per cent a year earlier.

The company has a provisioning coverage ratio of 57 per cent as against 62 per cent on stage 3 assets as of December 31, 2023.