Bajaj Finance profit fell 19% in Q4 2020

The non-banking finance company reported loss of ₹948 crore, impact of Covid-19 and lock down has reduced customers, revenue and lose of business. 

In addition to that Bajaj finance has to create provision of ₹1,954 crore of which nearly half is due to COVID-19.

The company has said the COVID-19 and lock down resulted into lower acqu of acquisition of nearly 1 million customers.



 

The company expects that 1954 crore of loan may not return and that has increased provision of bad loan by almost five-fold compared to March 2019.

Due to COVID-19 and lockdown it’s share price has fallen almost half in just few months.
 

By : | Category : Business and Economy| Sub Category : Indian Business News|Date : May 22,2020

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