Last updated: 05 Jan, 2021 | 10:05 am
Bajaj Finance’s latest update indicates that the company’s business is on the path to recovery, and the management is continuing to follow a conservative approach. Here are a few highlights:
The update by Bajaj Finance indicates that the business is on the path to reach pre-Covid levels and the recovery is playing out as expected. The company is keeping an excess liquidity buffer, especially considering the current economic environment.
Going forward, the company will report Q3FY21 results on January 20th. With the broader economy reviving, asset quality is likely to fare better than initially expected. The Gross NPA’s are expected in the range of 1.4-1.7%, while NPA’s would be in the 0.4-0.7% corridor. The ongoing crisis has been especially hard for banks and NBFCs. However, given its strong leadership position, the company is very well equipped to navigate these turbulent times.