Bajaj Finance share price gains as AUM spikes 31%, new loans booking grow 10% YoY in Q1

Bajaj Finance share price gained over a percent in early trade on Thursday after the non-banking finance company (NBFC) reported a strong business update for the first quarter of FY25.

Bajaj Finance’s total assets under management (AUM) grew by 31% to ₹354,100 crore as of June 30, 2024, as compared to ₹270,097 crore as of June 2023.

AUM in Q1 FY25 grew by approximately ₹23,500 crore, Bajaj Finance said in a regulatory filing.

The NBFC’s new loans booked recorded a 10% year-on-year (YoY) growth at 10.97 million in the quarter ended June 2024 as against 9.94 million in the same period last year.

The company resumed sanction and disbursal of loans under ‘eCOM’ and ‘Insta EMI Card’ and issuance of EMI cards after the RBI removed the restrictions on these businesses on 2 May 2024.

Deposits book in Q1FY25 increased 26% to ₹62,750 crore as compared to ₹49,944 crore, YoY.

Bajaj Finance said its customer franchise increased to 88.11 million in June 2024 from 72.98 million in June 2023. In Q1 FY25, the customer franchise increased by 4.47 million.

Moreover, net liquidity surplus stood at approximately ₹16,200 crore at the end of June quarter, it said, adding that the company’s liquidity position remains strong.

Bajaj Finance shares have recently gained momentum, rising over 11% in the past month. Despite this uptick, Bajaj Finance stock has underperformed this year, delivering no returns year-to-date (YTD) and declining more than 7% over the past twelve months.

At 9:20 am, Bajaj Finance shares were trading flat at ₹7,251.00 apiece on the BSE.