Net profit of Bajaj Finance rose 4.17% to Rs 1002.44 crore in the quarter ended June 2021 as against Rs 962.32 crore during the previous quarter ended June 2020. Sales rose 0.03% to Rs 6636.65 crore in the quarter ended June 2021 as against Rs 6634.93 crore during the previous quarter ended June 2020.

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Net Interest Income (NII) for Q1 FY22 increased by 8% to Rs 4,489 crore as against Rs 4,152 crore in Q1 FY21. Interest income reversal for the quarter was Rs 451 crore as compared to Rs 306 crore in Q1 FY21, up 47.4% YoY.

Total operating expenses to net interest income for Q1 FY22 was 30.6% as against 27.9% in Q1 FY21. During the quarter, the company took several actions to reduce its operating expenses to partially mitigate the financial impact caused by the second wave.

Loan losses and provisions for Q1 FY22 was Rs 1,750 crore as against Rs 1,686 crore in Q1 FY21. During the quarter, the company has done accelerated write offs of Rs 113 crore of principal outstanding on account of COVID-19 related stress. The company holds a management overlay and macro provision of Rs 483 crore as of 30 June 2021.

Profit before tax in Q1 FY22 stood at Rs 1,366 crore, up by 4% from Rs 1,310 crore in Q1 FY21.

Gross NPA and Net NPA as of 30 June 2021 stood at 2.96% and 1.46% as against 1.40% and 0.50% as of 30 June 2020. The company has provisioning coverage ratio of 51% on stage-3 assets and 174 bps on stage 1 and 2 assets as of 30 June 2021.

Capital adequacy ratio (including Tier-II capital) as of 30 June 2021 was 28.57%. The Tier-I capital was 25.41%.

Assets under management (AUM) grew by 15% to Rs 159,057 crore (including IPO financing receivables of Rs 2,942 crore) as of 30 June 2021 from Rs 138,055 crore as of 30 June 2020. Core AUM growth in Q1 FY22 was approximately Rs 4,100 crore.

The company's deposit book rose by 39% to Rs 27,972 crore as on 30 June 2021 from Rs 20,061 crore as on 30 June 2021.

Bajaj Housing Finance recorded 75% jump in net profit to Rs 161 crore on a 9% rise in total income to Rs 822 crore in Q1 FY22 over Q1 FY21.

Net Interest Income for Q1 FY22 increase by 38% to Rs 335 crore from Rs 243 crore in Q1 FY21.

Gross NPA and Net NPA as of 30 June 2021 stood at 0.28% and 0.18% as against 0.08% and 0.05% as of 30 June 2020. The company has provisioning coverage ratio of 36% on stage 3 assets and 87 bps on stage 1 and 2 assets as of 30 June 2021.

Consolidated assets under management (AUM) grew by 15% to Rs 159,057 crore (including IPO financing receivables of Rs 2,942 crore) as of 30 June 2021 from Rs 138,055 crore as of 30 June 2020. Core AUM growth in Q1 FY22 was approximately Rs 4,100 crore.

Bajaj Finance's standalone assets under management (AUM) grew by 12% to Rs 119,567 crore as of 30 June 2021 from Rs 106,584 crore as of 30 June 2020.

Bajaj Financial Securities (BFinsec) recorded total income of Rs 14.98 crore in Q1 FY22 as against Rs 2.88 crore in Q1 FY21. It made a net loss of Rs 3.23 crore for Q1 FY22.

BFinsec acquired 52,504 new retail and HNI customers in Q1 FY22. Customer franchise as of 30 June 2021 stood at 95,128.

The board of Bajaj Finance has approved appointment of Pramit Jhaveri, as an additional and independent director for a period of 5 consecutive years effective from 1 August 2021.

Bajaj Finance is engaged in lending and allied activities. It focuses on consumer lending, small and medium-sized enterprises (SME) lending, commercial lending, rural lending, fixed deposits and value-added services.

The scrip slipped 1.24% to end at Rs 5937.90 on the BSE today. On a year-to-date (YTD) basis, the stock has gained 12.12% while the benchmark Sensex has added 9.31% during the same period.

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Bajaj Finance announced that the Board of Directors of the company at its meeting held on 20 July 2021 approved the appointment of Pramit Jhaveri, as an Additional and Independent Director for a period of 5 consecutive years effective from 1 August 2021.

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Bajaj Finance Ltd dropped for a fifth straight session today. The stock is quoting at Rs 5979.3, down 0.6% on the day as on 13:24 IST on the NSE. The benchmark NIFTY is down around 0.53% on the day, quoting at 15668.45. The Sensex is at 52319.61, down 0.44%.Bajaj Finance Ltd has lost around 2.24% in last one month.Meanwhile, Nifty Financial Services index of which Bajaj Finance Ltd is a constituent, has eased around 1.05% in last one month and is currently quoting at 16555.75, down 1.17% on the day. The volume in the stock stood at 8.3 lakh shares today, compared to the daily average of 12.45 lakh shares in last one month.

The benchmark July futures contract for the stock is quoting at Rs 5993.2, down 0.39% on the day. Bajaj Finance Ltd jumped 81.61% in last one year as compared to a 40.37% rally in NIFTY and a 44.56% spurt in the Nifty Financial Services index.

The PE of the stock is 91.64 based on TTM earnings ending March 21.

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