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Bajaj Finserv Q3 results: Profit up 3% at Rs 2,231 cr, net income drop 20%

Bajaj Finserv Q3FY25 results: The company also approved the appointment of Ramandeep Singh Sahni as chief financial officer and whole-time key managerial personnel, effective February 1, 2025

bajaj Finserv

bajaj Finserv(Photo: Reuters)

Vasudha Mukherjee New Delhi

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Bajaj Finserv on Thursday reported a marginal 3.4 per cent rise in consolidated net profit at Rs 2,231 crore for the third quarter (Q3) of the financial year 2024-25 (FY25). The company reported a net profit of Rs 2,157.67 crore during the same period last year. Sequentially, profit rose 7 per cent from Rs 2,086.97 crore.
 
Bajaj Finserv’s consolidated interest income however fell by 20 per cent year-on-year (Y-o-Y) to Rs 13,922.38 crore from Rs 17,408.60 crore. Sequentially, however, revenue saw a marginal rise of 5 per cent from Rs 16,571.61 crore. 
 
The company saw 28 per cent growth in assets under management (AUM), which stood at Rs 3,98,043 crore as of December 31, 2024, up from Rs 3,10,968 crore in the year-ago period. A significant contributor to this growth was Bajaj Housing Finance, which recorded an AUM of Rs 1,08,314 crore, reflecting a 26 per cent Y-o-Y increase.
 
The company’s asset quality saw a slight deterioration, with gross non-performing assets (NPA) rising to 1.12 per cent from 0.95 per cent a year ago, while net NPA increased to 0.48 per cent from 0.37 per cent. The provisioning coverage ratio on stage 3 assets, which reflects the amount of funds set aside to cover potential bad loans, stood at 57 per cent. 
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).  ALSO READ: Adani Enterprises Q3 result: Profit drops sharply by 97% to Rs 58 crore 
Shares of Bajaj finserv were trading at Rs 1,785 on the BSE a 1:15 pm, down 0.35 per cent after the Q3FY25 financial results were released.       
 

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First Published: Jan 30 2025 | 1:24 PM IST

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