Bajaj Finance has posted a net profit of Rs 194 crore during Q3 FY14 against Rs 160 crore in the same quarter of the previous fiscal, registering a rise of 21 per cent year-on-year.
The profit was impacted by an accelerated provisioning of Rs 21 crore which the company said had been made to strengthen its provisioning framework. Without this, the increase in loan losses for Q3 FY14 over Q3 FY13 would have been 14 per cent, it said.
Total income from operations during the two quarters under review stood at Rs 1,070 crore and Rs 825 crore, respectively, a rise of 30 per cent YoY.
After touching a high of Rs 1,570, the company’s scrip was trading up at Rs 1,554 (0.43 per cent) in the afternoon session on the BSE.