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Bajaj Finance Ltd Q1FY21 consolidated PAT at Rs. 962.32 crore
Posted On : 2020-07-21 14:38:12( TIMEZONE : IST )
Bajaj Finance Limited has reported financial results for the period ended June 30, 2020.
Financial Results (Q1 FY 2020-21) - QoQ Comparison
The company has reported total income of Rs.6649.74 crores during the period ended June 30, 2020 as compared to Rs.7230.83 crores during the period ended March 31, 2020.
The company has posted net profit / (loss) of Rs.962.32 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.948.10 crores for the period ended March 31, 2020.
The company has reported EPS of Rs.15.93 for the period ended June 30, 2020 as compared to Rs.15.69 for the period ended March 31, 2020.
| Financials | Q1 FY2020-21 | Q4 FY19-20 | % Change |
| Total Income | ₹ 6649.74 crs | ₹ 7230.83 crs |  -8.04% |
| Net Profit | ₹ 962.32 crs | ₹ 948.10 crs |  1.5% |
| EPS | ₹ 15.93 | ₹ 15.69 | 1.53% |
Financial Results (Q1 FY 2020-21) - YoY Comparison
The company has reported total income of Rs.6649.74 crores during the period ended June 30, 2020 as compared to Rs.5807.76 crores during the period ended June 30, 2019.
The company has posted net profit / (loss) of Rs.962.32 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.1195.25 crores for the period ended June 30, 2019.
The company has reported EPS of Rs.15.93 for the period ended June 30, 2020 as compared to Rs.20.55 for the period ended June 30, 2019.
| Financials | Q1 FY2020-21 | Q1 FY2019-20 | % Change |
| Total Income | ₹ 6649.74 crs | ₹ 5807.76 crs | 14.5% |
| Net Profit | ₹ 962.32 crs | ₹ 1195.25 crs | -19.49% |
| EPS | ₹ 15.93 | ₹ 20.55 | -22.48% |
The COVID-19 pandemic has affected several countries across the world, including India. The pandemic and consequent lockdown imposed by the Govemment has considerably impacted the Group's business operations for the quarter ended 30 June 2020. Apart from other adverse effects, the pandemic has also resulted in a significantly lower business acquisition and put constraints on recovery of overdues from customers during the quarter ended 30 June 2020. Further, in accordance with the RBI Guidelines relating to 'COVID-19 Regulatory Package' dated 27 March 2020 and subsequent guidelines on EMI moratorium dated 17 April 2020 and 23 May 2020, the Group has offered EMI moratorium to its customers based on requests as well as on a suo-moto basis.
The Group has recognised an additional contingent expected credit loss provision of Rs. 1,450 crore during the quarter, taking the overall contingent expected credit loss provision to Rs. 2,350 crore as of 30 June 2020. Further, the Group, based on its estimate and judgement, has reversed expected uncollectible component of capitalised interest amounting to Rs. 219.51 crore charged on loans under moratorium.
Given the dynamic and evolving nature of the pandemic, these estimates are subject to uncertainty and may be affected by the severity, duration of the pandemic and other variables.
Consolidated moratorium book has reduced to Rs. 21,705 crore (or 15.7% of AUM) from Rs. 38,599 crore (or 27% of AUM) as of 30 April 2020 owing to reduction in bounce rate coupled with better collection efficiency. During the quarter, the Company made an additional contingency provision for COVID-19 of Rs. 1,450 crore taking the overall contingency provision for COVID-19 to Rs. 2,350 crore as of 30 June 2020. The contingency provision for COVID-19 is now at 10.8% of consolidated moratorium book. This contingency provision together with existing expected credit loss provision of Rs. 623 crore provides an overall provisioning coverage of 13.7% on the consolidated moratorium book. Additionally, as a matter of prudence, the Company has also reversed Rs. 220 crore of interest income from the interest capitalised during moratorium period.
The Company continues to remain very well capitalised with CRAR of 26.40% as at 30 June 2020. It remains one of the best capitalised large NBFCs in India.
The Company's liquidity position remains very strong with overall liquidity surplus of approximately Rs. 17,700 crore as of 30 June 2020 on consolidated basis. The Company's liquidity surplus as of 20 July 2020 was approximately Rs. 20,590 crore.
Shares of Bajaj Finance Limited was last trading in BSE at Rs.3441.35 as compared to the previous close of Rs. 3301.8. The total number of shares traded during the day was 651031 in over 54662 trades.
The stock hit an intraday high of Rs. 3452.8 and intraday low of 3316.35. The net turnover during the day was Rs. 2205608665.
