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Propelled by a robust growth in loans to rural, commercial and consumer segments, Bajaj Finance has reported a 54 per cent jump in net profit at Rs 424 crore in the first quarter ended June 30, 2016 against Rs 276 crore in the year-ago period.
Net interest income was up 45 per cent at Rs 1,418 crore (Rs 979 crore in the year-ago quarter). Interest and fee income increased by 39 per cent to Rs 2,301 crore (Rs 1,656 crore)
The improved profitability comes despite a 75 per cent jump in loan loss provisions of Rs 180 crore (Rs 103 crore).
Assets under management (AUM) as of 30 June 2016 was up 40 per cent at Rs 49,608 crore against Rs 35,557 crore as of June 30, 2015.
The company shares were trading higher by 9.68 per cent at Rs 9,847.35 on the BSE.
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