Mumbai, Jul 21: Bajaj group firm Bajaj Auto Finance today said its net profit jumped three-fold to Rs 46.8 crore in the April-June quarter on the back of impressive growth in consumer durables and two-wheeler financing.
"It (Q1 FY 11) has been an excellent quarter for us and we hope to maintain the momentum in the remaining three-quarters of this fiscal," Bajaj Auto Finance CEO Rajeev Jain told PTI here today.
The company had reported a net profit of Rs 15.2 crore in April-June 2009-10.
Growth has been secular across all business lines in Q1, he said.
The consumer durables financing has been the fastest growing while two-wheeler financing (of Bajaj Auto products) has witnessed a 70-80 per cent growth, he said.
On two-wheelers, Jain said that the company has managed to achieve a 24 per cent penetration in the domestic sales of Bajaj Auto's two-wheeler products.