Bajaj Housing Finance Q2 Profit Up 21% to Rs 546 Crore

New Delhi, Oct 21 (PTI) Bajaj Housing Finance on Monday reported a 21 per cent growth in net profit to Rs 546 crore in the September quarter.

The housing finance company had recorded a net profit of Rs 451 crore in the same quarter a year ago.

This is the first quarterly number after the company's listing last month on stock exchanges.

Total income increased to Rs 2,410 crore during the quarter under review from Rs 1,912 crore a year earlier, Bajaj Housing Finance said in a regulatory filing.

The company earned an interest income of Rs 2,227 crore during the quarter, compared to Rs 1,782 crore in the same period a year ago.

Asset quality of the company worsened with gross non-performing assets declining to 0.29 per cent of the gross loans by the end of September 2024 from 0.24 per cent a year ago.

Similarly, net NPAs, or bad loans, also increased to 0.12 per cent from 0.09 per cent at the end of the second quarter of the previous fiscal year.

Capital adequacy ratio (including Tier-II capita l) as of September 30, 2024 was 28.98 per cent, it said.

The company has made an Initial Public Offer (IPO), during the period ended September 30, 2024 for 93,71.42,856 equity shares of Rs 10 each comprising a fresh issue of 50,85,71.428 equity shares and 42,85,71.428 equity shares offered for sale by selling shareholders, it said.

The equity shares were issued at a price of Rs 70 per equity share including a share premium of Rs 60 per equity share, it said.