Bajaj Finserv posts Q3 PAT at Rs1,614cr, up 52% yoy

During Q3FY20, Bajaj Finserv (BFL) recorded its highest ever quarterly consolidated profit after tax (PAT) of Rs1,614cr, with an increase of 52% yoy in Q3FY20 as against Rs1,060cr in Q3 FY19. This includes the impact of a lower corporate tax rate.

Total income for Q3FY20 increased by 41% yoy to Rs7,026cr vs. Rs4,992cr in Q3FY19.
Assets under management (AUM) stood at Rs1.45 lakh cr as on December 31, 2019, vs. Rs1.07 lakh cr as on December 31, 2018 - an increase of 35%. This includes AUM of Rs30,035 cr of its housing finance subsidiary, BHFL, which recorded a growth of 115% over the AUM as on December 31, 2018.

Gross NPA and Net NPA stood at 1.61% and 0.70%, respectively.

After the equity capital raising of Rs8,500cr, capital adequacy ratio of BFL Standalone as at December 31, 2019 (including Tier-II capital) stood at 26.87%. The Tier-I capital was 23.16%.

For Bajaj Housing Finance Limited (BHFL), a 100% mortgage subsidiary of BFL, the capital adequacy ratio (including Tier-II capital) stood at 18.91%, at December 31, 2019.

Stock view:

Bajaj Finserv Ltd is currently trading at Rs9,771.35, down by Rs130.9 or 1.32% from its previous closing of Rs9,902.25 on the BSE.
The scrip opened at Rs9,970 and has touched a high and low of Rs9,970 and Rs9,771.35 respectively. 

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