Bajaj Finance's Q3 Profits Dip Amid Rising Income and Assets

Bajaj Finance reported a 6% drop in consolidated net profit for the third quarter of the current fiscal year, amounting to Rs 4,066 crore, down from Rs 4,308 crore in the previous year.

Despite the decline in profits, the company's total income saw a significant increase, reaching Rs 21,215 crore compared to Rs 18,058 crore in the same period last year. Additionally, the company's assets under management improved substantially, growing to Rs 4,88,477 crore.

The financial performance also displayed growth in net interest income, which rose to Rs 11,317 crore. However, gross non-performing assets increased to 1.21%, while net NPAs slightly decreased. The provisioning coverage ratio improved to 61% on stage 3 assets.