Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
2013-10-16

Bajaj Finance Q2 net increase 30% on retail, SME lending growth

Non-banking finance company Bajaj Finance today reported a 30 per cent increase in net profit at Rs 167 crore in the second quarter ended September 30 on higher growth in retail and SME lending.

Non-banking finance company Bajaj Finance today reported a 30 per cent increase in net profit at Rs 167 crore in the second quarter ended September 30 on higher growth in retail and SME lending. 



The Pune-headquartered NBFC had posted a net profit of Rs 129 crore in the same quarter last year. 



"We witnessed a strong growth of 30 per cent in our net profit in the second quarter," Rajeev Jain, Bajaj Finance CEO said, adding that he expects the momentum in retail and SME lending to continue because of the festive season. 



The company's net interest income rose 32 per cent to Rs 582 crore in the July-September period as against Rs 442 crore in the year-ago quarter. Total income for the second quarter rose 31 per cent to Rs 964 crore from Rs 737 crore in the corresponding period previous year, Bajaj Finance said in a release. 


 

Consumer lending segment grew 26 per cent to Rs 2,652 crore from Rs 2,112 crore in the year ago quarter. In the SME finance segment, the NBFC notched a 36 per cent increase in lending to Rs 1,922 crore as compared to Rs 1,411 crore in the same period last year. 



In line with the gloom on the macroeconomic front, the company's commercial finance business registered a negative growth of 23 per cent at Rs 625 crore in Q2 as against Rs 811 crore in the same period last year. Jain attributed this to a weak growth in construction equipment finance. 

 

Related opportunities
  • American Kidz, the pioneers in the field of Language training,..
    Locations looking for expansion Uttar Pardesh
    Establishment year 2009
    Franchising Launch Date 2010
    Investment size Rs. 2lac - 5lac
    Space required 1200-1500 sq. feet
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater MEERUT Uttar Pardesh
  • About:Agent Jack's Bar is a casual dining restaurant that serves..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 2 Cr. - 5 Cr
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • About Maple Bear:-Who are we?Maple Bear combines the best of..
    Locations looking for expansion New Delhi
    Establishment year 2011
    Franchising Launch Date 2015
    Investment size Rs. 20lac - 30lac
    Space required 3000 - 4000 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New Delhi New Delhi
  • About: Jordan Hill is a welcoming preschool, which offers young children..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2017
    Investment size Rs. 30lac - 50lac
    Space required 0
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities