Bajaj Finance reported on April 26 that its consolidated net profit for the quarter ended March 2023 was at Rs 3,157.79 crore, up 30.51 percent from Rs 2,419.51 in the same quarter last year.
Revenue from operations of the financial services firm came in at Rs 11,359.59 crore, up 31.68 percent from Rs 8,626.06 crore in the year-ago quarter.
The Board of Directors have recommended a dividend on equity shares at the rate of Rs 30 per share, the company said in a regulatory filing.
Net interest income for 04 FY23 increased by 28 percent to Rs 7,771 crore from Rs 6,061 crore.
Gross NPA and Net NPA as of March 31, 2023 stood at 0.94 percent and 0.34 percent respectively, as against 1.60 percent and 0.68 percent as of March 31, 2022. The company has a provisioning coverage ratio of 64 percent on stage 3 assets and 118 bps on stage 1 and 2 assets as of March 31, 2023.
The number of new loans booked during the quarter grew by 20 percent to 7.56 million as against 6.28 million. Customer franchise stood at 69.14 million as of March 31, 2023 as compared to 57.57 million as of March 31, 2022, a growth of 20 percent. The company's customer franchise grew by 3.09 million.
Assets under management (AUM) grew by 29 percent to Rs 247,379 crore as of March 31, 2023 from core AUM (i.e. AUM excluding short-term IPO financing receivable) of Rs 192,087 crore as of March 31,2022. AUM growth in Q4 was the highest ever at Rs 16,537 crore.
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