GST destocking a blessing for Bajaj Finance

AUM expanded 39% in Q1, posting the best growth in recent times

A positive June quarter (Q1) results took Bajaj Finance’s stock further up by about 2 per cent and to a fresh 52-week high. These numbers reiterate the company’s business capabilities and also allay the Street’s concern how its business would be hit due to destocking prior to the introduction of the goods and services tax (GST). 

Net interest income during the quarter grew 49 per cent to Rs 2,087 crore, while net profit expanded 42 per cent year-on-year to Rs 602 crore, both ahead of the Street’s expectations. 

Assets under management (AUM) at Rs 68,883 crore in the reporting quarter