 "Bajaj Finance Q4 Results: PAT up 30% YoY; dividend declared at Rs 30/share")
Bajaj Finance Ltd on Wednesday posted a consolidated net profit of Rs 3,158 crore for the quarter ended March. This is 30 per cent higher as compared to Rs 2,419 crore in the corresponding quarter of the financial year (FY) 2022.
The company added in the statement that the number of new loans booked during Q4 FY23 grew by 20 per cent to 7.56 million as against 6.28 million in Q4 FY22.
The net interest income for the reporting period increased 28 per cetnt to Rs 7,771 crore from Rs 6,061 crore in Q4 FY22.
Further, operating expenses to the net interest income were at 34.1 per cent in the fourth quarter against 34.5 per cent in Q4 FY22.
The company added in the statement that the number of new loans booked during Q4 FY23 grew by 20 per cent to 7.56 million as against 6.28 million in Q4 FY22.
Assets under management (AUM) grew by 29 per cent 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 FY23 was highest ever at Rs 16,537 crore.
The company recommended a dividend at rate of Rs 30 per share.