Thursday, July 25, 2024

Bajaj Finance Q4 new loan bookings up 20% YoY, AUM grows 29%

NBFC Bajaj Finance on Tuesday reported 20 per cent growth in its new loans booked for the quarter ended March 2023, touching a record high in FY23.

The new loans booked during March quarter grew by 20% to 7.6 million as compared to 6.3million in the corresponding quarter last fiscal. It also booked highest ever new loans of 29.6 million in FY23.

The company’s core assets under management or AUM grew up 29% from the year-ago period at 2.47 lakh crore, . In the quarter ended March, the AUM grew by approximately 16,500 crore.

“The company continues to remain well capitalised with a capital adequacy ratio of approximately 24.9% as of March 31, 2023,” Bajaj Finance said.

Bajaj Finance noted that the customer franchise as of March 2023 stood at 69.1 million as compared to 57.6 million in the year ago period. In Q4 FY23, the customer franchise increased by 3.1 million. The company recorded highest ever increase in its customer franchise of 11.5 million in FY23.

The deposit book stood at 44,650 crore as of March 31, compared to 30,800 crore a year ago. This implies a growth of 45% year-on-year.

“The company continues to remain well capitalised with capital adequacy ratio (CRAR) of approximately 24.9% as of 31 March 2023,” it said in its regulatory filing.

Bajaj Finance Ltd reported a 40% year-on-year (YoY) rise in consolidated net profit for the quarter ended December to 2,973 crore. Total revenue from operations increased 26.3% on year to 10,784.30 crore. The company’s net interest income (NII) increased 24% on year to 7,435 crore

On Monday, shares of Bajaj Finance ended 1.74% higher at 5,713.00 on the BSE.

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