Bajaj Finance Q2 update: AUM rises 29% to ₹3.74 lakh crore

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.

Vaamanaa Sethi
Published3 Oct 2024, 11:39 PM IST
Bajaj Finance Q2 update: AUM rises 29% to  <span class='webrupee'>₹</span>3.74 lakh crore.
Bajaj Finance Q2 update: AUM rises 29% to ₹3.74 lakh crore.

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.

Also Read | Q2 Update: Infosys, Wipro to announce Sept quarter results on THESE dates

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.

Also Read | IT Sector Q2 Results Preview: TCS, Infosys likely to lead revenue growth

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.

 

 

 

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First Published:3 Oct 2024, 11:39 PM IST
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