Wednesday, September 27, 2023
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Bajaj Finance beats estimates as Q2 net profit surges 88% to Rs 2,781 cr

by Euro Times
October 20, 2022
in Business
Reading Time: 1 min read
A A
0
Home Business
Share on FacebookShare on Twitter



Bajaj Finance Ltd reported a record quarterly profit on Thursday, beating estimates on improved demand for loans and better asset quality.


Demand for credit has remained strong in India despite a series of interest rate hikes by the central bank in its fight against inflation, with both banks and shadow lenders reporting strong lending growth as consumers look to make more purchases.


Consolidated profit rose 88% to Rs 2,781 crore in the second quarter ended Sept. 30, from Rs 1,481 crore a year earlier, Bajaj Finance said in an exchange filing.


Analysts on average had expected a profit of Rs 2,680 crore, according to Refinitiv IBES data.


Net interest income advanced 31%, while new loans booked rose 7%.


The gross non-performing asset ratio, a measure of asset quality, eased to 1.17% at the end of September from 2.45% a year earlier.


The company’s assets under management climbed 31% to Rs 2.18 trillion


India had 10,000 shadow banks as of March 2021, latest central bank data shows, with assets of Rs 54 trillion or about one-fourth that of the banking sector.


($1 = 82.6370 Indian rupees)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)



Source link

Tags: BajajbeatsestimatesfinancenetProfitsurges
Previous Post

Come To America! We Have Flesh Eating Bacteria, Open Air Drug Markets, Millions Of Rats And Lots Of Fentanyl – Investment Watch

Next Post

Crypto Casino Stake.com Doubles Their Supported Currencies

Related Posts

Tech Transition Underway; Options Surge: HDFC Securities

by HDFC Securities Institutional Equities
September 27, 2023
0

MCX - Tech Transition Underway; Options Surge: HDFC Securities 27 Sep 2023, 4:01 PM IST 27 Sep 2023, 4:01 PM...

Glenmark, Cosmo ink distribution pact for Winlevi, shares up

by Euro Times
September 27, 2023
0

Glenmark Pharmaceuticals Ltd’s shares were up 1.67 per cent after the company announced that its subsidiary, Glenmark Speciality S.A., and...

More than 100 dead, 150 injured in Iraq wedding inferno

by Euro Times
September 27, 2023
0

More than 100 people were killed and 150 injured in a fire at a wedding party in Hamdaniya district in...

U.S. blocks imports from 3 Chinese companies blamed for forced labor (NYSEARCA:XLI)

by Euro Times
September 26, 2023
0

Chip Somodevilla/Getty Images News The United States on Tuesday restricted imports from three more Chinese companies for using the forced...

Target says it will close nine stores, citing violence and theft

by Euro Times
September 26, 2023
0

A Target department store in North Miami Beach, Florida, on May 17, 2023.Joe Raedle | Getty ImagesTarget said Tuesday that...

Centre sticks to market borrowing plan for H2FY24; introduces 50-year bond

by Euro Times
September 27, 2023
0

The central government has decided to stick to its market borrowing plan of Rs 6.55 trillion in the second...

Next Post

Crypto Casino Stake.com Doubles Their Supported Currencies

Berlusconi trashes NATO narrative on Ukraine – media — RT World News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Solana Bulls Struggle To Break $21 Barrier

September 27, 2023

Dont Count on PPP Solutions — Global Issues

September 27, 2023

Tech Transition Underway; Options Surge: HDFC Securities

September 27, 2023

Why Biden may need to defy history to beat Trump

September 27, 2023

Jony Ive is reportedly creating an AI gadget with OpenAI’s CEO

September 27, 2023

Binance to Sell Entire Russia Business to CommEX

September 27, 2023
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Solana Bulls Struggle To Break $21 Barrier

Dont Count on PPP Solutions — Global Issues

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In