 "Bajaj Finance")
Bajaj Finance on Wednesday reported a 32.4 per cent rise in its consolidated profit after tax (PAT) to Rs 3,436.89 crore in the first quarter of the current financial year.
In the corresponding period last year, the non-banking finance company (NBFC) reported a net profit of Rs 2,596 crore.
In the April-June quarter, the gross non-performing assets (NPA) ratio of the company stood at 0.87 per cent, as compared to 0.94 per cent a quarter ago, and 1.25 per cent in a year ago period.
The net NPA ratio of the NBFC was reported at 0.31 per cent in the quarter, as against 0.34 per cent a quarter ago and 0.51 per cent a year ago.
Total revenue from operations grew 34.6 per cent year-on-year (YoY) to Rs 12,497.81 crore from Rs 9,284.26 crore.
The company's total assets under management (AUM) grew by 32 per cent to Rs 2.7 trillion as of June 30, 2023 from Rs 2.04 trillion as of June 30, 2022.
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The number of new loans booked during Q1FY24 also grew by 34 per cent to 9.9 million as against 7.4 million in Q1FY23, highest ever new loans in a quarter.
Loan losses and provisions for Q1FY24 were Rs 995 crore as against Rs 755 crore in Q1FY23. The company holds a management and macroeconomic overlay of Rs 840 crore as of June 30, 2023.
The capital adequacy ratio (including Tier-II capital) as of June 30, 2023 was 24.61 per cent. The Tier-I capital was 23.01 per cent.
As of 3:18 pm, Bajaj Finance was trading 2.1 per cent in the red at Rs 7,445.15 apiece on BSE.
