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    500034   INE296A01024

BAJAJ FINANCE LIMITED

(500034)
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Bajaj Finance : First-Quarter Net Fell Nearly 20% on Covid-19 Provision

07/21/2020 | 03:26am EDT

By P.R. Venkat

Bajaj Finance Ltd. said its first-quarter net profit fell nearly 20% from a year earlier, as it made a provision anticipating the impact Covid-19 will have on its business.

Net profit for the quarter ended June came in at 9.62 billion rupees ($128.70 million) and a provision of INR14.50 billion had been made during the period, the finance company said Tuesday.

However, total revenue rose nearly 14% to INR66.48 billion, mainly supported by higher net interest income.

The company's business operations in the first quarter were considerably affected by government restrictions caused by the pandemic. Bajaj Finance said it faced constraints on the recovery of overdue payments from customers during the first quarter.

The company's consolidated liquidity position remains very strong, with overall liquidity surplus of about INR177 billion as of June 30, Bajaj Finance said.

 

Write to P.R. Venkat at venkat.pr@wsj.com

 

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Financials
Sales 2021 172 B 2 342 M 2 342 M
Net income 2021 46 736 M 638 M 638 M
Net Debt 2021 - - -
P/E ratio 2021 78,3x
Yield 2021 0,13%
Capitalization 3 671 B 50 125 M 50 120 M
Capi. / Sales 2021 21,4x
Capi. / Sales 2022 18,1x
Nbr of Employees 26 969
Free-Float 39,0%
Income Statement Evolution
Consensus
 
Mean consensus -
Number of Analysts
Average target price
Last Close Price 6 118,80 
Spread / Highest target -
Spread / Average Target -
Spread / Lowest Target -
EPS Revisions
Managers and Directors
NameTitle
Rajeev Paraschandra Jain Managing Director & Executive Director
Sandeep Jain Chief Financial Officer
Anurag Chottani Chief Information Officer
R. Vijay Secretary & Compliance Officer
Ranjan Surajprakash Sanghi Independent Non-Executive Director
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