Bajaj Finance reported better than expected set of numbers for Q4FY21 by Mr. Jyoti Roy, Angel Broking Ltd
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Below are Quote on Bajaj Finance reported better than expected set of numbers for Q4FY21 by Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd
Bajaj Finance reported a better than expected set of numbers for Q4FY21 as NII increased by 2.2% YoY to Rs. 3839 crore on the back of strong 6.5% sequential growth in advances. Operating expenses were up by 10.5% YoY while pre provisioning profits were down by 5.3% YoY to Rs. 3061 crore. Provisioning for the quarter was down by 37.0% YoY to Rs. 1231 crore. Consolidated PAT for the quarter was up by 42.9% YoY to Rs. 1,355 crore. While the company came back to the growth path in Q4FY21 post there was a significant improvement with GNPA and NNPA improving to 1.79% and 0.75% from 2.86% and 1.22% in Q3FY21. Overall the company has posted a robust set of numbers for Q4FY21 especially on the asset quality front. At current levels the stock is trading at 5.8xFY23 Adj. BVPS which is in line with historical averages. Post the Q4FY21 numbers we maintain our positive view on Bajaj Finance.
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