Bajaj Auto Finance Ltd announced its unaudited results for the second quarter ending 30 September, 2008. The company announced an increase of 21 per cent in its net profit at Rs 4.57 crore compared to Rs 3.78 crore for the same period last year.
The company's revenues stood at Rs 137.36 crore an increase of 11 per cent at Rs 123.40 crore for the corresponding quarter in the last year.
During the quarter the company restructured its business to increase its profitability. As a part of the exercise the company reduced its branched from 116 to 84 and also reduced 56 attached locations. This will be an ongoing process the company informed in a statement to the BSE.
Other initiatives taken during the quarter included launching of Personal and mall Business Loans and outsourcing of operations and information technology platform to Adventity, an IT outsourcing company. The outsourcing will be completed by March 2009, the company informed.
