Bajaj Finance offers final dividend of ₹36 a share as quarterly profit jumps 21%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Non-banking financial company (NBFC) Bajaj Finance on Thursday (April 25) reported a 21.1% year-on-year (YoY) increase in net profit at ₹3,824.53 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter last year, Bajaj Finance posted a net profit of ₹3,157.8 crore, it said in a regulatory filing. CNBC-TV18 poll had predicted a profit of ₹3,888.7 crore for the quarter under review.

Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, rose 21.1%, coming at ₹3,824.53 crore against ₹3,157.8 crore in the corresponding quarter of FY23.

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The gross non-performing asset (GNPA) stood at 0.85% in the March quarter against 0.95% in the December quarter. The net non-performing asset (NNPA) came at 0.34% against 0.37% quarter-on-quarter.

The board of directors has recommended a dividend of ₹36 per share (1800%) of face value of ₹2 each for the financial year ended March 31, 2024. The dividend, if approved by the shareholders at the ensuing annual general meeting, will be credited or dispatched on or July 26-27.

The results came after the close of the market hours. Shares of Bajaj Finance Ltd ended at ₹7,293.90, down by ₹33.80, or 0.46% on the BSE.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow