Bajaj Finance eyes expansion for next phase of growth2 min read . Updated: 31 Jan 2023, 12:45 AM IST
What buoyed sentiment towards the stock was the management’s Long-Range Strategy (LRS)—an annual five-year rolling strategy planning process with an execution plan of 12-24 months.
Bajaj Finance Ltd has managed to keep its investors satisfied with its December quarter (Q3FY23) performance. Its profit after tax saw a robust 40% year-on-year (y-o-y) growth. This was aided by strong net interest income (NII), up 24% y-o-y. Despite the rising cost of funds, net interest margin (NIM) remained stable as the company passed on the burden of interest rate hikes to customers across segments. Assets under management (AUM) rose by 27% y-o-y, but growth has moderated slightly from 31% seen at the end of H1FY23, given the rising competitive intensity especially in the mortgage business.
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