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ICICI Direct Report
Bajaj Finance Ltd. reported an in line performance with elevated Covid-19 provisions, lower opex that enabled higher-than-expected operating profit and standstill status kept asset quality stable.
The moratorium book came down from 15.7% in the previous quarter to 8.0% in September 2020.
Consolidated asset under management witnessed growth of 1% YoY to Rs 137300 crore, declining 1% sequentially.
AUM for mortgage segment increased 15% YoY from highs of 30-40% in the past and was flat QoQ to Rs 45989 crore as of September 30, 2020.
Consumer B2B fell 6% QoQ, 19%YoY to Rs 20605 crore. Consumer B2C de-grew 3% QoQ but remained just up 5% YoY.
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