Buoyed by a strong volume growth in consumer and SME business lines, Bajaj Finance Ltd reported a 143 per cent jump in its PAT for the second quarter ending September 30, 2010, at Rs. 52.8 crore as against Rs. 21.69 crore in the year-ago period.
Total income surged 49 per cent at Rs. 326.4 crore from Rs. 219.7 crore in the year-ago period, according to a company statemnet.
Deployments to the consumer durables witnessed a 58 per cent increase during the quarter at Rs. 401 crore as against Rs. 211 crore in the year-ago period while small and medium enterprise business lines saw a 71 per cent jump in deployments at Rs. 251 crore as against Rs. 157 crore in the year-ago period.
In two-wheelers, the company's deployment stood at Rs. 472 crore in during the second quarter as against Rs. 312 crore in the year-ago period, up 74 per cent.
The company's customer-base increased from 1,93,075 to 3,17,398 while total deployment rose 112 per cent to Rs. 2,128 crore from Rs. 1,003 crore in the year-ago period.
Loan loss and provisions were Rs. 61.5 crore (including Rs. 19.4 crore of one-time accelerated provision in Q2FY11 as against Rs. 58.5 crore in the correponding period of the previous fiscal. Adjusted for this accelerated provision, loan loss and provisions would have been Rs. 42.1 crore.
The company's capital adequacy ratio, including tier-II capital and excluding current year's profits stood at 21 per cent.
The company's NPA provision coverage ratio as at September 2010 stood at 75 per cent.
