Bajaj Finance Q1 Review - Lockdown Led Pains; Expect Improvement Soon: ICICI Direct
A customer holds Indian rupee notes at a store in the Dadar wholesale flower market in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)  

Bajaj Finance Q1 Review - Lockdown Led Pains; Expect Improvement Soon: ICICI Direct

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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.

ICICI Direct Report

Bajaj Finance Ltd. reported lower-than-expected earnings led by higher provisions and lower net interest income.

Loan losses and provisions for Q1 FY22 were at Rs 1750 crore against Rs 1,230 crore in Q4 FY21.

Bajaj Finance was holding a management overlay and macro provision of ~Rs 840 crore as of March 31, 2021. It has come down to Rs 483 crore in Q1 FY22.

Non performing asset provision coverage ratio was at 51% on stage-III assets, down from 58% QoQ and is ~174 basis points coverage on stage-I and II.

Click on the attachment to read the full report:

ICICI Direct Bajaj Finance Q1FY22 Result Update.pdf

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