Bajaj Finance has posted 43 percent increase in its net profit at Rs 449 crore for the March quarter.

During the January-March quarter of 2015-16, the company had posted a net profit of Rs 315 crore.

It has said in a release that the total income during the quarter increased by 38 percent to Rs 2,673 crore from Rs 1,943 crore in the year ago period.

It said that “The company continued to strengthen its provisioning policy. During the quarter, the company took an additional charge of Rs 70 crore on account of demonetisation and non-recurring provisions. Adjusted for this additional charge, loan losses and provision was Rs 220 crore.”

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