Losses Getting Upfronted Due To New Method Good For Long-Term: Bajaj Finance
  • WebDesk BTVI
  • Jul 25 2019

Bajaj Finance posted a 43 per cent year-on year rise in net profit to Rs 1,195 crore during the June quarter. The company's provisions for bad loans rose by 68 per cent to Rs 550 crore. Speaking to BTVI, Rajeev Jain, MD at Bajaj Finance, said high provisioning is because of new provisioning methodology, by which a whole lot of provisions are upfronted, which is good for the long term. Here's more.