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( 21 Oct 2020)
Bajaj Finserv Q2 net profit down 99.81% at Rs 0.64 cr

The company reported standalone net profit of Rs 0.64 crore for the quarter ended September 30, 2020 as compared to Rs 345.03 crore in the same period last year, registering a year-on-year decline of 99.81 per cent.

Net revenue of the company declined substantially by 93.27 per cent at Rs 25.67 crore in July-September quarter of this fiscal as against Rs 381.39 crore in the corresponding period last year.

During July-September quarter, operating expenses increased by 3.56 per cent to Rs 37.57 crore from Rs 36.28 crore in year ago period.

Other Income grew by 44.96 per cent at Rs 13.96 crore versus (Sep'19 Rs 9.63 crore).

Operating Profit slipped by 103.45 per cent to Rs -11.90 crore as against Rs 345.11 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 151.23 per cent in September quarter.

Taxation decreased by 96.87 per cent at Rs 0.29 crore (Sep'19 Rs 9.27 crore).