Bajaj Finance announced that its new loans booked increased by 4% to 7.87 million in Q4 FY24 as compared to 7.56 million recorded in Q4 FY23.
The new loans booked during the quarter were lower by 0.80 million on account of the restrictions placed by the RBI on the company, on sanction and disbursal of loans under eCOM and Insta EMI CardCustomer franchise as of 31 March 2024 stood at 83.64 million as compared to 69.14 million as of 31 March 2023. In Q4 FY24, the customer franchise increased by 3.23 MM.
Assets under management (AUM) jumped by 34% to approximately Rs 330,400 crore as of 31 March 2024 as compared to Rs 247,379 crore as of 31 March 2023. AUM in Q4 FY24 grew by approximately Rs 19,400 crore.
Consolidated net liquidity surplus stood at approximately Rs 15,700 crore as of 31 March 2024. The company said that its liquidity position remains strong.
The companys deposits book stood at around Rs 60,100 crore as of 31 March 2024 as compared to Rs 44,666 crore as of 31 March 2023, a YoY growth of 35%.
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Bajaj Finance is one of Indias leading and most diversified financial services companies. The company is mainly engaged in the business of lending. BFL has a diversified lending portfolio across retail, SME and commercial customers with a significant presence.
The NBFC reported 22.4% increase in consolidated net profit to Rs 3,638.95 crore on a 31.3% jump in total income to Rs 14,165.98 crore in Q3 FY24 as compared with Q3 FY23.
Shares of Bajaj Finance shed 0.77% to Rs 7,226 on the BSE.
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