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Bajaj Finance, a leading Indian non-banking financial company (NBFC), announced its December quarter results today, February 3, post market hours, reporting a 5.6% decline in consolidated net profit to ₹4,066 crore.

In the same period last year, the company had posted a net profit of ₹4,308 crore. On a sequential basis, net profit fell 18% from ₹4,947 crore in the September quarter.

Net profit was impacted by higher provisions, including an accelerated ECL charge of ₹1,406 crore and a one-time gratuity-related expense of ₹265 crore due to the new labour codes. Adjusted for these items, net profit would have risen to ₹5,317 crore, marking a 23% year-on-year improvement.

Net interest income (NII), which reflects the difference between interest earned on loans and interest paid to depositors, rose to ₹11,318 crore in Q3, up from ₹9,383 crore in the corresponding quarter of the previous year.

The company reported steady loan growth, with the number of new loans rising to 13.90 million in Q3 FY26, compared with 12.06 million in Q3 FY25, reflecting a 15% year-on-year increase. which boosted its assets under management (AUM) to ₹4.84 lakh crore, from ₹3.98 lakh crore a year earlier, marking a 22% YoY growth.

Loan losses and provisions for Q3 FY26 stood at ₹3,625 crore. Excluding the accelerated expected credit loss (ECL) provision of ₹1,406 crore, loan losses and provisions were ₹2,219 crore, up from ₹2,043 crore in Q3 FY25, representing a 9% increase.

Annualised loan losses and provisions to average assets under finance, before accelerated ECL provisioning, improved to 1.91% in Q3 FY26, compared with 2.16% in Q3 FY25, according to the company's earnings' filing.

On the asset quality front, gross non-performing assets (GNPA) and net NPAs stood at 1.56% and 0.61%, respectively, as of 31 December 2025, versus 1.41% and 0.61% a year earlier.

(more to come)

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