Bajaj Housing Finance on Monday reported a 21 per cent growth in net profit to ₹546 crore in the September quarter.

The housing finance company had recorded a net profit of ₹451 crore in the same quarter a year ago.

This is the first quarterly number after the company’s listing last month on stock exchanges.

Total income increased to ₹2,410 crore during the quarter under review from ₹1,912 crore a year earlier, Bajaj Housing Finance said in a regulatory filing.

The company earned an interest income of ₹2,227 crore during the quarter compared with ₹1,782 crore in the same period a year ago.

The asset quality of the company worsened with gross non-performing assets declining to 0.29 per cent of the gross loans by the end of September 2024 from 0.24 per cent a year ago.

Similarly, net NPAs, or bad loans, also increased to 0.12 per cent from 0.09 per cent at the end of the second quarter of the previous fiscal year.

The capital adequacy ratio (including Tier-II capita l) as of September 30, 2024 was 28.98 per cent, it said.

The company has made an initial public offer (IPO) during the period ended September 30, 2024 for 93,71.42,856 equity shares of ₹10 each comprising a fresh issue of 50,85,71.428 equity shares and 42,85,71.428 equity shares offered for sale by selling shareholders, it said.

Union Bank

Union Bank of India on Monday logged a 34 per cent growth in its net profit at ₹4,720 crore for the second quarter ended September 2024.

The Mumbai-based lender had earned a net profit of ₹3,511 crore in the same quarter a year ago.

PTI