India's Bajaj Finance posts quarterly profit rise on strong loan growth (updated)

Bajaj Finance

19/10/2026 13:07

Adds AUM growth breakup in paragraphs 4-6, asset quality details in paragraphs 8-9
Oct 19 (Reuters) - India's Bajaj Finance BJFN.NS posted a 28.7% year-on-year rise in quarterly profit on Monday, supported by strong growth in its loan book.
The non-banking financial company's consolidated profit after tax rose to 63.67 billion rupees ($670.74 million) for the second quarter ended September 30, from 49.48 billion rupees a year earlier.
     Robust demand for consumer financing, along with sustained borrowing by small businesses and growing demand for gold loans and housing finance, has supported loan growth across non-bank lenders.
Bajaj Finance's assets under management grew 26% year-on-year in the September quarter, its fastest pace since the March 2025 quarter.
Gold loans doubled year-on-year, and rural consumer finance grew 63%.
Loans to small and medium enterprises, where the company has tightened underwriting after a period of higher delinquencies, grew 3%. 
Its net interest income — the difference between interest earned on credit and paid on borrowings — rose 24% to 133.35 billion rupees.
The non-bank lender's gross non-performing asset ratio improved to 1.06% from 1.24% a year earlier, but deteriorated sequentially from 0.96%.
Its credit cost, a measure of provisions set aside for potential loan losses, improved to 1.56% on-year from 1.88% but stayed largely flat sequentially.   

($1 = 94.9250 Indian rupees)

 (Reporting by Nishit Navin in Bengaluru; Editing by Sonia Cheema and Janane Venkatraman)
 ((Nishit.Navin@thomsonreuters.com;))