Bajaj Finance Q3 results: Net profit rises 22% to Rs 3,639 crore

Bajaj Finance: The non-banking finance company has registered a 22 percent on-year growth in consolidated net profit at Rs 3,639 crore for the October–December period of FY24, despite higher loan losses and provisions. Net interest income during the quarter increased by 29 percent to Rs 7,655 crore compared to the year-ago period, while the number of new loans booked grew by 26 percent to 9.86 million during the same period. Asset quality has weakened, with the gross NPA rising 4 bps QoQ to 0.95 percent and the net NPA increasing 6 bps sequentially to 0.37 percent for the quarter.

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26 Aug, 2025 12:21

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Bajaj Finance on January 29 reported a consolidated net profit of Rs 3,638.95 crore for the October-December quarter of the current financial year, up 22.4 percent from the same quarter of the previous year, in line with the Street estimates.

As per a Moneycontrol poll of six brokerages, the lender's consolidated net profit is expected to rise 25 percent on-year to Rs 3,716 crore.

The rise in profit in the reporting quarter was on the back of increase in net interest income (NII) and improvement in the asset quality.

Total net income of the non-bank lender stood at Rs 9,298 crore in October-December quarter, from Rs 7,438 crore in the similar period last year. This was up 25 percent on a yearly basis.

An average of four brokerages showed that the net income is expected to rise 26 percent on-year to Rs 9,344 crore. Stable asset quality and strong AUM (assets under management) growth would drive earnings, analysts had said.

Meanwhile, net interest income of Bajaj Finance came in at Rs 7,655 crore for the quarter, versus Rs 5,922 crore in the similar period last year, growing 29 percent on a yearly basis.

Also read: GAIL Q3 results: Consolidated net profit up multi-fold to Rs 3,193 crore

AUM

Bajaj Finance, on January 3, declared provisional numbers for the December quarter AUM. On the back of a strong festive season, the company's AUM crossed the Rs 3-lakh-crore mark for the first time in the quarter gone by, surging 35 percent on-year.

AUM grew by 35 percent to Rs 3.11 lakh crore as of December 31, 2023 from
Rs 2.31 crore as of December 31, 2022. AUM grew by Rs 20,704 crore in Q3FY24, as per release.

As per the Q3 update, its deposit book grew by 35 percent to Rs 58,000 crore. During the quarter, it booked 98.6 lakh new loans, a year-on-year growth of 26 percent.

Asset quality

On the asset quality front, the non-bank lender reported an improvement both in gross non-performing assets (NPA) and net NPA in the reporting quarter.

Gross NPA and Net NPA as of December 31, 2023 stood at 0.95 percent and 0.37 percent respectively , as against 1.14 percent and 0.41 percent as of December 31, 2022.

The Company has provisioning coverage ratio of 62 percent on stage 3 assets as of December 31, 2023.

Capital adequacy ratio (CRAR) (including Tier-II capital) as of December 31, 2023 was 23.87 percent. The Tier-I capital was 22.80 percent.

On 16 November 2023, Reserve Bank of India (RBI) increased risk weight on consumer credit exposure from 100 percent to 125 percent which had an impact of 290 basis points (Bps) on CRAR. Adjusted for this change CRAR would have been 26.77 percent, company said in a release.

Bajaj Housing Finance 

The net profit of the Bajaj Housing Finance rose 31 percent on-year to Rs 437 crore in October-December quarter. In the similar period last year, the housing financier reported a net profit of Rs 334 crore.

This was mainly on account of increase in AUM and net interest income. Assets under management grew by 31 percent on-year to Rs 85,929 crore as of December 31, 2023 from Rs 65,581 crore as of December 31, 2022.

Net interest income increased by 17 percent in Q3FY24 to Rs 645 crore from Rs 549 crore in Q3FY23.

Gross NPA and Net NPA as of December 31, 2023 stood at 0.25 percent and 0.10 percent, respectively, as against 0.23 percent and 0.10 percent as of December 31, 2022.

Bajaj Housing Finance has provisioning coverage ratio of 61 percent on stage 3 assets as of December 31, 2023.

Capital adequacy ratio (including Tier-II capital) as of December 31, 2023 was 21 .92 percent.

Also read: ITC Q3 preview: Revenue, net profit may see single-digit growth; hotel, FMCG to shine

Bajaj Financial Securities

Net profit of the Bajaj Financial Securities in the reporting quarter stood at Rs 16 crore as compared to Rs 3 crore in in a year ago period.

Net interest income in Q3FY24 was Rs 31 crore as against Rs 22 crore in Q3FY23. Net total income in Q3FY24 was Rs 74 crore as against Rs 46 crore in Q3FY23.

Margin trade financing (MTF) book stood at Rs 3,167 crore as of December 31, 2023 as against Rs 1,080 crore as of December 31, 2022.