Bajaj Finance Limited - SECOND QUARTER RESULTS SEPTEMBER 2014

Bajaj Finance Limited

SECOND QUARTER RESULTS

SEPTEMBER 2014

Key performance highlights

·       Profit before tax for Q2 FY15 é18% to `299 Crores from `253 Crores in Q2 FY14

·       Profit  after tax for Q2 FY15 é18% to `197 Crores from `167 Crores in Q2 FY14.

·       Assets Under Management during Q2 FY15 é41% to `28,004 Crores From`19,829 Crores in Q2 FY14.

·       Deployments during Q2  FY15  é50%to `7,816 Crores from `5,200 Crores in Q2 FY14.

·       Total income for Q2 FY15 é29% to `1,242 Crores from `964 Crores in Q2 FY14.

·       Customers acquired during Q2 FY15 é42% to 9,78,174 from 6,89,772 in Q2 FY14.

·       Loan losses and provisions for Q2 FY15 é54%to `80 Crores as against `52 Crores in Q2 FY14.

·       Return on Assets and Return on Equity for Q2 FY15 were 0.7% and 4.6%(not annualized) respectively.

·       Gross NPA and Net NPA for Q2 FY15 stood at 1.41% and 0.48% respectively.

·       The provisioning coverage  ratio stood at 67% as of 30 September 2014. The Company continues to provide for loan losses in excess of  RBI requirements.

·       Portfolio remained healthy however the movement in gross and net NPA was on account of an Infra account slipping into NPA. Adjusted for the same, Gross and Net NPA would have remained in line with recent trends.

·       Capital adequacy ratio (including Tier-II capital) stood at 19.30%. The company during the quarter has raised Tier-II capital of ` 453 crores which helped augment its capital adequacy by around 125 bps. The Company continues to be well capitalized to support its growth trajectory

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RESULTS TABLE

BAJAJ FIN	30-Sep-14	30-Jun-14	Dif % QoQ	30-Sep-13	Dif % YoY
Net Sales	117025	118010	-0.83	87420	33.87
Total Expenditure	39864	42572	-6.36	32920	21.09
Profit  before Interest, Dep. & Taxes	77161	75438	2.28	54500	41.58
Net Profit	19715	21136	-6.72	16704	18.03
Diluted EPS	39.16	42.1	-6.98	33.35	17.42
Total Income	123221	124361	-0.92	96165	28.13
Profit before tax	29873	32060	-6.82	25270	18.22
Tax Expenses	10158	10924	-7.01	8566	18.59
Net Profit	19715	21136	-6.72	16704	18.03
Face Value	10	10	0	10	0
Paid-up Equity	5014	5014	0	4978	0.72
Basic EPS	39.52	42.46	-6.92	33.56	17.76
Diluted EPS	39.16	42.1	-6.98	33.35	17.42
Public Shareholding (%)	38.39	38.39	0	37.93	1.21

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BAJAJ FINANCE LIMITED - RESULTS FOR - Q3 FY 2014 (DEC,2013) - NET SALES UP 18%; NET PROFITS UP 21%

BAJAJ FINANCE LIMITED

QUARTERLY RESULTS

Q3 FY 2013-14 (DEC,13)

Bajaj Finance Limited  is a diversified Non-banking financial company, engaged in the business of financing, with focus on : Consumer Finance, small and medium sized enterprises Finance, and Commercial Lending. Consumer Finance includes 2 wheeler & 3 wheeler loans, consumer durables, personal loan cross sell, salaried loans, co-branded credit card. SME finance includes mortgage, business loans, loan against securities and commercial lending includes construction equipment Finance, infrastructure finance and vendor financing.

Its quarterly result for the Q3 FY 14 is in the table below :

Net sales have gone up 17.53%c QoQ and 29.78% YoY.

Net Profit  at Rs.194.14 Cr have gone up  16.22% QoQ and 21.27% YoY.

Diluted EPS on a Face Value of Rs.10. stands at Rs.38.76 (Annualized = Rs.155.04). 

At a CMP of Rs. 1,548.05, the PE Ratio stands at :9.9

Results Table :

BAJAJ FIN	31-Dec-13	30-Sep-13	%Dif QoQ	30-Jun-13	31-Mar-13	31-Dec-12	%Dif YoY
Net Sales	102742	87420	17.53	88370	78029	79168	29.78
Total Expenditure	37738	32920	14.64	33413	27863	27077	39.37
Profit bef. Intt, Dep. & Taxes	65004	54500	19.27	54957	50166	52091	24.79
Net Profit	19414	16704	16.22	17574	16381	16009	21.27
Diluted EPS	38.76	33.35	16.22	35.07	35.11	38.15	1.6
Total Income	107032	96165	11.3	92832	83225	82468	29.79
Employee benefits	8916	8084	10.29	7792	6503	6335	40.74
Depreciation	615	495	24.24	390	525	358	71.79
Other expenses	28207	24341	15.88	25231	20835	20384	38.38
Total expenses	37738	32920	14.64	33413	27863	27077	39.37
Profit Before tax	29485	25270	16.68	26686	23837	23660	24.62
Tax Expenses	10071	8566	17.57	9112	7456	7651	31.63
Net Profit	19414	16704	16.22	17574	16381	16009	21.27
Face Value	10	10	0	10	10	10	0
Paid-up Equity	4978	4978	0	4978	4977.83	4281	16.28
Basic EPS	39	33.56	16.21	35.3	35.35	38.44	1.46
Basic EPS after Extra. items	38.76	33.56	15.49	35.3	35.35	38.44	0.83
Public holding (%)	37.93	37.93	0	37.93	37.93	38.02	-0.24

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