Non-banking financial services company Bajaj Finance reported 63% increase in the consolidated profit after tax for the second quarter of the financial year to ₹1,506 core as compared to ₹923 crore reported in the same period of the previous year, the company said. This is the highest quarterly profit made by the company.
“This includes the impact of a lower corporate tax rate. BFL intends to exercise the option to compute corporate tax at lower rate (25.17%),” Bajaj Finance said.
The assets under management (AUM) increased 38% to ₹135,533 crore as on September 30, which includes AUM of ₹25,714 crore of its housing finance subsidiary, BHFL, which recorded a growth of 141% over the AUM as on September 30, 2018.
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Gross non-performing assets (NPA) and Net NPA ratios were at 1.61% and 0.65% respectively, as at end September.
The board of Bajaj Finance has approved raising capital of ₹8,500 crore through a qualified institutional placement.
The capital to be raised during the quarter is meant to support the growth of the business over the next few years, Bajaj Finance Limited said.
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