Bajaj Finance Ltd. reported a 29 per cent increase in assets under management, reaching ₹3.74 lakh crore for the quarter ending in September, according to a provisional quarterly business update submitted to stock exchanges on Thursday.
The loan portfolio of the non-banking financial service provider increased by 14 per cent year-on-year, reaching 9.69 million in the second quarter. As of September, the net liquidity surplus was ₹20,100 crore, and the company’s deposits totaled ₹66,100 crore, reflecting a 21 per cent year-on-year growth.
As of September, the net liquidity surplus was ₹20,100 crore, and the company’s deposits totaled ₹66,100 crore, reflecting a year-on-year growth of 21 per cent.
Customer franchise as of 30 September 2024 stood at 92.09 MM as compared to 76.56 MM as of 30 September 2023. In Q2 FY25, the customer franchise increased by 3.98 MM.
Bajaj Finance Q1 performance
Bajaj Finance’s net interest income surged by 25 per cent in the first quarter, reaching ₹8,365 crore compared to the same period last year. Total revenue from operations also experienced a significant increase, rising 28.8 per cent to ₹16,098 crore for the quarter ending in June year-on-year.
Additionally, the lender’s other income saw remarkable growth, climbing 97.8 per cent year-on-year to ₹3.64 crore. However, loan losses and provisions spiked by 70 per cent to ₹1,685 crore in the first quarter, up from ₹995 crore in the same period last year. This rise was attributed to reduced collection efficiencies, as highlighted in its investor presentation.
The company’s net loan loss to average assets under finance was 1.99 per cent in the first quarter, with projections set at 1.75 per cent–1.8 per cent for the financial year 2025.
Moreover, the nonbank financier’s assets under management grew by 31 per cent year-on-year, reaching ₹2.70 lakh crore, compared to ₹1.80 lakh crore a year ago.
