Bajaj Finserv’s consolidated net profit down nearly 2.6% for the quarter ended December 2021 1,256 crore as compared to 1,290 crore in the year-ago quarter. Shares of Bajaj Finserv were trading down over 4% on the BSE in Thursday afternoon deals following Bajaj Finserv’s third quarter announcement.
However, the financial services company’s total revenue from operations grew by more than 10% during Q3FY22. from 17,587 crore 15,958 crore year-on-year (YoY). Meanwhile, its tax expense increased to 899 crore 697 crore in the same quarter last year.
Assets Under Management (AUM) as on 31st December 2021 up by 26% over the previous year 181,250 crore as compared to 143,550 crore as on 31st December 2020.
“Economic conditions were better in Q3FY22 as compared to Q2FY22, though some key indicators like auto sales remained muted. The quarter also witnessed adverse weather events, affecting the general insurance business,” the company said in an exchange filing today.
The capital adequacy ratio (including Tier-II capital) as on 31st December 2021 was 26.96%. Tier-I capital was 24.44%.
“At the end of Q3, the emergence of the Omicron variant has raised renewed concerns over its spread and containment measures. In these dynamic circumstances, our businesses remain focused on growth,” the company said.
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