Bajaj Finance’s net interest income (NII) surged 30 percent y-o-y to Rs 6,068 crore in the March quarter. The other large component of its revenues was in the form of fees and other income of Rs 1,164 crore, up 51 percent from the same period last year.
The consolidated results of Bajaj Finance include the earnings of its wholly-owned subsidiaries -- Bajaj Housing Finance Ltd (BHFL) and Bajaj Financial Securities Ltd (BFinsec).
The total AUM of the company grew 29 percent to Rs 1.97 trillion as on 31 March on a consolidated basis. The book of Bajaj Housing Finance Ltd stood at Rs 53,322 crore in the same period and is included in the consolidated numbers.
Its new loans booked grew by 15 percent y-o-y to 6.28 million in Q4. Among the fastest-growing segments in this quarter were loan against securities at 79 percent, followed by rural lending at 43 percent, commercial lending at 39 percent. Its total deposits stood at Rs 30,800 crore, up 19 percent from the same period last year.
Bajaj Finance’s loan losses and provisions declined 47 percent on a year-on-year (y-o-y) basis to Rs 702 crore.
Gross non-performing asset (NPA) and net NPA ratio stood at 1.60 percent and 0.68 percent as on 31 March, respectively, with a provisioning coverage ratio of 58 percent.
Bajaj Finance informed exchanges that phase 1 of the company's digital platform, which got delayed due to Covid, has now gone live. The firm plans to deliver phase 2 of the platform in the next 8-9 months, subject to no major disruption as a result of current and new covid waves. The first update on phase 2 will be provided with July quarter results.
The company has net 19.1 million active users on its digital app platform as of 31 March 2022, as against net 16.5 million active users as of 31 December 2021. In FY23, the company intends to have 33-35 million net active users.
The firm announced a dividend of Rs 20 a share. The company also said annual general meeting will be held on July 27.
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