Loan losses and provisions for Q2 FY21 was ₹1,700 crore as against ₹594 crore in Q2 FY20, Bajaj Finance said
Bajaj Finance today reported a dip in net profit its September quarter as the lender almost tripled provisions for bad loans as the coronavirus pandemic impacted demand for credit and borrowers’ ability to repay.. Net profit fell to ₹965 crore as compared to the ₹1,506 crore in the year-ago period. Loan losses and provisions for second quarter ended September 30, 2020, was ₹1,700 crore as against ₹594 crore in Q2 FY20. Consolidated assets under management rose to ₹137,090 crore as compared to ₹135,533 crore in the year-ago period.
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