Q4 earnings: Reduction in provisions, finance costs help Bajaj Finance tide over timid loan growth
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Provisions on bad loans fell 37% to Rs 1231 crore in the quarter ended March 2021 from Rs 1954 crore last year while finance costs fell 14% to Rs 2196 crore from Rs 2547 crore in March 2020.
Consolidated assets under management rose 4% to Rs 1.52 lakh crore from Rs 1.47 lakh crore a year ago.
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Mumbai:
Bajaj Finance’s quarterly earnings surged 42% helped by a fall in borrowing costs, provisions for defaults, and a rise in fee income. It is confident of delivering growth for the full year despite partial lockdowns halving loan originations in some segments in the first 10 days of the new fiscal year as it could accelerate disbursements in subsequent quarters.