Pune-based non-banking financial company, Bajaj Finance, posted a 48 per cent rise in net profit, at Rs 129 crore, in the quarter ended September 30.
Total income rose 49 per cent to Rs 737 crore during the same period.
The company disbursed new loans of Rs 4,334 crore, which rose 29 per cent. The assets under management (AUM) grew 53 per cent to Rs 15,370 crore.
The net non-performing assets for the second quarter increased sequentially to 0.2 per cent, compared with 0.1 per cent. Provisions rose 20 per cent to Rs 53 crore year-on-year, while capital adequacy ratio stood at 17.7 per cent at the end of the quarter.
According to Rajeev Jain, CEO of Bajaj Finance, the company will raise Rs 750 crore in the third or fourth quarter of the current financial year, which could drive its capital adequacy up to 23 per cent.
Bajaj Finserv (the holding company of all the financial ventures from the Bajaj group), which includes the insurance business, reported 37 per cent rise in net profit at Rs 217 crore. The general insurance arm posted 22 per cent rise in net profit at Rs 78 crore, while life insurance wing reported 54 per cent rise in net profit, at Rs 88 crore.
Gross written premium and renewal premium in life insurance were down at Rs 1,592 crore and Rs 941 crore, respectively.
