Bajaj Finance wins after good Q1 business update
Bajaj Finance rose 2.85% to Rs 5,823.70 after NBFC recorded a 60.9% increase in new loans earmarked to 74 lakh in the first quarter of FY23 from 46 lakh in the first quarter of exercise 22.
The customer deductible as of June 30, 2022 was 6.03 crore compared to 5.05 crore as of June 30, 2021, up 19.4% year-on-year. NBFC said it recorded the highest ever quarterly increase in its customer franchise of 27 lakh in the first quarter of FY23.
Major assets under management (AuM) stood at around Rs 2,04,000 crore as of June 30, 2022 from Rs 1,56,115 crore as of June 30, 2021, jumping 31% year-on-year. The basic AUM addition in the first quarter of FY23 was around Rs 11,900 crore.
Consolidated excess liquidity stood at around Rs 11,550 crore as of June 03, 2022. The company said its liquidity position remains strong. The company said it remains well capitalized with a capital adequacy ratio (CRAR) of around 26.2% as of June 30, 2022.
Bajaj Finance’s deposit book stood at around Rs 34,100 crore as of June 30, 2022, compared to Rs 27,972 crore as of June 30, 2021, registering a growth of 22% year-on-year.
During the quarter, the company invested Rs 2,500 crore in shares of Bajaj Housing Finance, a wholly owned subsidiary of the company.
Consolidated net profit of Diversified NBFC jumped 80% to Rs 2,419.51 crore on a 25.90% increase in total revenue to Rs 8,630.28 crore in Q4 FY22 compared to Q4 FY21.
Bajaj Finance is engaged in lending and related activities. It focuses on consumer loans, small and medium enterprise (SME) loans, commercial loans, rural loans, fixed deposits and value-added services.
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