Bajaj Finance Q3 Review – Growth Pickup, Strong Commentary Gives Confidence: ICICI Direct

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Led by standstill status from the Supreme Court, the gross non-performing asset ratio declined to 0.55% from 1.03% QoQ and net-non performing asset ratio came at 0.19% from 0.37% on a consolidated basis.

However, proforma GNPA and net non-performing asset surged to 2.86% and 1.22% respectively. Restructuring is at 1.4% of loans and has provisions of Rs 397 crore on it.

The company expects to revert to pre-Covid-19 NNPA by H1 FY22, except auto finance business which may take longer due to underlying collateral value.

During the quarter, the company has also done one-time principal write-off of Rs 1,970 crore, on account of Covid-19 related stress

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ICICI Direct Bajaj Finance Q3FY21 Result Update.pdf


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