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

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

An Indian five hundred rupee banknote is arranged for a photograph. (Photographer: Dhiraj Singh/Bloomberg)
An Indian five hundred rupee banknote is arranged for a photograph. (Photographer: Dhiraj Singh/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

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

Click on the attachment to read the full report:

ICICI Direct Bajaj Finance Q3FY21 Result Update.pdf

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