Bajaj Finance on Thursday reported a 21 per cent rise in consolidated net profit to Rs 3,825 crore for the March quarter. The non-banking finance company (NBFC) had registered a net profit of Rs 3,158 crore in the same period a year ago.

Total income on a consolidated basis during the January-March period of 2023-24 rose to Rs 14,932 crore as against Rs 11,368 crore in the year-ago period, Bajaj Finance said in a regulatory filing.

Net interest income increased 28 per cent during the fourth quarter of the previous fiscal year to Rs 8,013 crore from Rs 6,254 crore a year ago.

At the same time, total expenses increased to Rs 9,830 crore from Rs 7,108 crore last year, as per the filing.

Bajaj Finance consolidated result comprises Bajaj Housinq Finance Ltd, Bajaj Financial Securities Ltd, Snapwork Technologies Pvt Ltd, and Pennant Technologies Pvt Ltd.

The board recommended a dividend of Rs 36 per equity share of the face value of Rs 2 (1,800 per cent) out of the profits of 2023-24, subject to shareholders’ approval, it said.

In the previous financial year, the NBFC had approved a dividend of Rs 30 per share of the face value of Rs 2 each (1,500 per cent).

The total assets under management as on March 31, 2024 increased 30 per cent to Rs 3,30,615 crore.

The company said its gross non-performing assets (NPAs) and net NPAs as of March 2024 stood at 0.85 per cent and 0.37 per cent, respectively.

For the full year ended March 2024, profit after tax increased 26 per cent to Rs 14,451 crore from Rs 11,508 crore in FY23.

During the year, the company earned a total income of Rs 46,946 crore as against Rs 35,690 crore in the previous fiscal.

The company’s capital adequacy ratio, including Tier-II capital, as of March 31, 2024 was 22.52 per cent, while the Tier-I capital was 21.51 per cent, the company said.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)