Bajaj Finance Q3 Review - Stressed Pool Stable; Guidance Positive: Motilal Oswal 
A man counts Indian rupee banknotes in Varanasi. (Photographer Dhiraj Singh/Bloomberg)

Bajaj Finance Q3 Review - Stressed Pool Stable; Guidance Positive: Motilal Oswal 

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Motilal Oswal Report

Bajaj Finance Ltd.’s profit after tax declined 29% YoY to Rs 11.5 billion (19% miss) in Q3 FY21.

The miss was wholly on account of the lower-than-expected net interest income (15% miss). The same was offset by lower credit costs (10% beat). An interest reversal of Rs 4.5 billion led to the NII miss.

Gross non-performing loss ratio (excluding the Supreme Court dispensation on term loan EMIs payments) increased to 2.86% from 1.34% QoQ.

The company wrote-off approximately Rs 20 billion worth of loans (1.4% of loans) and restructured Rs 20.4 billion worth of loans (1.4% of loans).

Click on the attachment to read the full report:

Motilal Oswal Bajaj Finance Q3FY21 Result Update.pdf

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