Bajaj Finance post strong Q4 earnings

Bajaj Finance post strong Q4 earnings

Shares of Bajaj Finance gained over 7% on Wednesday after the company reported a 42% jump in consolidated net profit for the fourth quarter of the fiscal ended March 2021. It jumped 7% to Rs 5,215.20 on the BSE.
Bajaj Finance (BFL) on Tuesday reported a 42% jump in consolidated net profit at Rs 1,347 crore for the fourth
quarter of the fiscal ended March 2021.

The company’s net profit stood at Rs 948 crore in the January-March period of the preceding fiscal year 2019-20.
The consolidated figures of BFL include results of wholly-owned subsidiaries Bajaj Housing Finance (BHFL) and Bajaj Financial Securities (BFinsec).

Net interest income during the quarter also dipped 1% to Rs 4,659 crore, from Rs 4,684 crore in Q4 FY20.
Total income fell by 5% to Rs 6,855 crore, from Rs 7,231 crore earlier.
For the full year 2020-21, net profit dropped 16% to Rs 4,420 crore, as against Rs 5,264 crore in 2019-20.
Total income during the year, however, rose 1% to Rs 26,683 crore as against Rs 26,385 crore.

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