Bajaj Finance delivers strong growth in Q3. Should you buy this NBFC stock post third quarter?3 min read . Updated: 28 Jan 2023, 08:24 PM IST
- In Q3FY23, Bajaj Finance's new loans booked were the highest ever at 7.84 million. Customer franchise witnessed the highest-ever quarterly increase of 3.14 million in Q3 -- taking the total to 66.05 million as of December 31, 2022.
NBFC giant Bajaj Finance garnered the highest-ever consolidated quarterly profit of ₹2,973 crore in the third quarter of FY23, rising by 40% year-on-year. Also, new loans booked and net additions to customer franchise were at record levels in Q3. The company's asset quality is pristine. Post Q3, brokerage Prabhudas Lilladher has maintained its buy rating on Bajaj Finance stock, however, reduced the target price. Intense competition in consumer finance and mortgage business, while the NBFC's plan to enter the microfinance business are key factors to look into.
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