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Economic Times
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- Economic Times
Bajaj Finance shares in focus after Q1 profit rises 22% YoY to Rs 4,765 crore, NII up 22%
Shares of Bajaj Finance will be in focus on Friday after the company reported a 22% year-on-year (YoY) rise in consolidated net profit to Rs 4,765 crore for the June quarter. Net interest income (NII) also grew 22% YoY to Rs 10,227 crore, driven by robust loan growth and an expanding customer base. ADVERTISEMENT Profit before tax stood at Rs 6,368 crore, up 21% from the same period last year. The profit growth was led by strong loan volumes, healthy interest income, and customer additions. The company booked 13.49 million new loans during the quarter, a 23% increase over Q1 FY25. Its customer franchise rose 21% YoY to 10.6 crore, with 4.69 million new customers added in the quarter. Assets under management (AUM) surged 25% YoY to Rs 4.41 lakh crore from Rs 3.54 lakh crore. Sequentially, AUM increased by Rs 24,789 total income rose 21% to Rs 12,610 crore, while pre-provisioning operating profit grew 22% to Rs 8,487 losses and provisions increased 26% to Rs 2,120 crore, compared to Rs 1,685 crore in Q1 FY25. The annualized credit cost for the quarter stood at 2.02% of average assets under finance. ADVERTISEMENT Asset quality weakened slightly, with gross non-performing assets (GNPA) rising to 1.03% from 0.86% a year ago, and net NPA climbing to 0.50% from 0.38%. However, the company maintained a healthy provision coverage ratio (PCR) of 52% on Stage 3 adequacy remains robust, with the CRAR at 21.96%, including Tier-I capital of 21.19%. ADVERTISEMENT Bajaj Finance's consistent growth across loan volumes, interest income, and customer additions reinforces its leadership in the NBFC space. However, the uptick in asset quality stress and higher provisioning will be key monitorables in the coming quarters. (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
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