Total loan book increased 15% year on year also boosted by IPO financing. Loan book increased to 1.59 lakh crore, including IPO financing of ₹2,942 crore as of June 2021 from ₹1.38 lakh crore a year ago.
Net Interest Income (NII) increased by 8% to ₹4,489 crore from ₹4,152 crore despite a higher interest income reversal of ₹451 crore compared to ₹306 crore a year ago.
Higher costs affected business as total operating expenses to net interest income ratio rose to 30.6% from 27.9% last year.
Provisions for bad loans increased to ₹1,750 crore from ₹1,686 crore and also up from ₹1,231 crore in the quarter ended March 2021.
Bajaj Finance accelerated write-offs of ₹113 crore of principal outstanding on account of Covid-19 related stress during the quarter.
Bajaj Finance appoints director
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Bajaj Finance records PAT of Rs 1,002 crore in Q1 FY22
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Bajaj Finance net rises 4% to ₹1,002 crore in Q1 - The Hindu BusinessLine
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Pramit Jhaveri, Noel Tata top contenders for Tata Sons board: Report
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