Bajaj Finserv Ltd on January 30 reported 3% increase in consolidated net profit at Rs 2,231 crore for the quarter ended December 31, 2024. It reported net profit of Rs 2,158 crore in the year-ago period.
The firm's revenue from operations rose 10% to Rs 32,042 crore in Q3FY25 as against Rs 29,038 crore in Q3FY24.
At 1 pm on January 30, Bajaj Finserv shares were trading nearly flat at Rs 1,788.6 apiece.
Assets Under Management (AUM) as on December 31, 2024 were Rs 3,98043 crore versus Rs 3,10968 crore as on December 31, 2023 - an increase of 28%. This includes AUM of Rs 1,08,314 crore of Bajaj Housing Finance, which recorded a growth of 26% over the AUM as on 31 December 2023.
Gross Non-Performing Assets (NPA) and Net NPA as on December 31, 2024 stood at 1.12% and 0.48% respectively as against 0.95% and 0.37% as on 31 December 2023. Provisioning coverage ratio on stage 3 assets is 57%.
The company also approved the appointment of Ramandeep Singh Sahni as chief financial officer and whole-time key managerial personnel, effective February 1, 2025. He will replace S Sreenivasan, who will step down as CFO on January 31, 2025. However, Sreenivasan will remain with the company in a leadership role as president (insurance and special projects).
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