Bajaj Finance Net Profit Increases 20%

Bajaj Finance has reported 20% jump in the net profit for the April-June quarter of FY2014-15, riding on an increase in deployments to consumers and small businesses.

The company said there was 48% rise in deployments during the quarter at Rs 9,266 crore. The deployment growth was led mainly by the small and medium enterprises and consumer segments, which grew 54% and 48%, respectively.

The company’s total income went up 34% to Rs 1,246 crore.

The company’s chief executive Rajeev Jain said the gross non-performing assets ratio was by and large flat at 1.13%, while the net non-performing assets ratio improved slightly to 0.27%.

The company's scrip gained 0.09% to close at Rs 2,186.70 apiece on the BSE, whose 30-share benchmark Sensex ended the session with gains of 1.27%.