BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Bajaj Finance Ltd.’s Q2 FY21 profit after tax declined approximately 36% YoY to Rs 9.6 billion (2% miss).
Net interest income beat of 2%, coupled with opex beat of 3%, led to 4% pre-provision operating profit beat.
With Rs 17 billion credit costs, the company continued to build on its provision buffer – its standard asset provisions of 3.7% are now among the highest in our non-banking finance company coverage universe.
For H1 FY21, PPoP grew 20% YoY; however, profit before tax declined 32% YoY due to Covid-19-related provisioning.
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