Bajaj Housing Finance's net profit up 20.95% in Q2 FY25
Bajaj Housing Finance (BHFL) has reported a growth of 20.95 %in its net consolidated profit during the quarter ended September 30, 2024. Its profit after tax stood at Rs 5.45 billion as against Rs 4.51 billion it recorded in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company's net consolidated total income stood at Rs 24.10 billion in Q2 FY25, a growth of 26.09% from Rs 19.11 billion it recorded in the similar quarter last year. The company has made an initial public offer (IPO), during the period ended September 30, 2024 for 93,71,42,856 equity shares of Rs 10 each, comprising a fresh issue of 50,85,71,428 equity shares of the company and 42,85,71,428 equity shares offered for sale by selling shareholders. As on September 30, 2024, its net worth stood at Rs 187.71 billion, debt-equity ratio was 3.97, total debts to total assets was 0.79, gross non-performing assets were 0.29% and net NPA was 0.12%. Provisioning coverage ratio on stage 3 assets at 58%.
Assets under management grew by 26% to about 1025.69 billion as of September 30, 2024 from Rs 81,215 crore as of September 30, 2023. Net interest income, for Q2 FY25 increased by 13% to Rs 7.13 billion from Rs 6.32 billion in Q2 FY24. Loan losses and provisions for Q2 FY25 was Rs 5 crore as against Rs 180 million in Q2 FY24. BHFL holds a management and macro economic overlay of Rs 440 million as of September 30, 2024.
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