Mumbai, Feb 3 (IANS) Bajaj Finance on Tuesday reported a 5.6 per cent decline in consolidated net profit for the December quarter (Q3 FY26).
The non-banking financial company (NBFC) posted a net profit of Rs 4,066 crore, compared to Rs 4,308 crore in the same quarter last financial year (Q3 FY25), according to its stock exchange filing.
On a sequential basis, profit fell 18 per cent from Rs 4,947 crore reported in the September quarter (Q2 FY26), as per its regulatory filing.
The company said profitability was impacted by higher provisions, including an accelerated expected credit loss (ECL) charge of Rs 1,406 crore and a one-time gratuity-related expense of Rs 265 crore following the implementation of new labour codes.
Adjusted for these items, net profit would have stood at Rs 5,317 crore — reflecting a 23 per cent year-on-year growth.
Despite the drop in reported profit, Bajaj Finance saw strong growth in its core lending business.
Net interest income (NII) rose to Rs 11,318 crore in the December quarter, up from Rs 9,383 crore in the year-ago period, as per its regulatory filing.
Loan growth remained steady during the quarter. The company booked 13.90 million new loans in Q3 FY26, up 15 per cent from 12.06 million loans in the same quarter last financial year.
This helped assets under management (AUM) grow 22 per cent year-on-year to Rs 4.84 lakh crore, compared with Rs 3.98 lakh crore a year ago.
Loan losses and provisions stood at Rs 3,625 crore during the quarter. Excluding the accelerated ECL provision of Rs 1,406 crore, loan losses and provisions were Rs 2,219 crore, up 9 per cent from Rs 2,043 crore in the corresponding period last year.
As of December 31, 2025, gross non-performing assets (GNPA) stood at 1.56 per cent, slightly higher than 1.41 per cent a year earlier.
Net NPAs remained stable at 0.61 per cent compared to the same level last financial year, the company added.
–IANS
pk
