Bajaj Finance records over 5% YoY growth in new loans in Q3; customer franchise at 66 mn

Bajaj Finance said that new loans booked by the company during Q3 FY23 stood at 7.8 million, up by 5.4% as compared with the same period last year.

The company had booked 7.4 million loans in the corresponding quarter last fiscal.

The NBFC further said that the customer franchise as of 31 December 2022 stood at 66 million as compared to 55.4 million as of 31 December 2021, up 19% YoY. The company recorded highest ever quarterly increase in its customer franchise of 3.1 million in Q3 FY23.

Assets under management (AUM) grew by 27% to approximately Rs 230,850 crore as of 31 December 2022 as compared to Rs 181,250 crore as of 31 December 2021. AUM in Q3 FY23 grew by approximately Rs 12,500 crore.

Consolidated net liquidity surplus stood at approximately Rs 12,750 crore as of 31 December 2022. The company's liquidity position remains strong, Bajaj Finance said.

The company continues to remain well capitalized with capital adequacy ratio (CRAR) of approximately 25.1% as of 31 December 2022.

Deposit book stood at approximately Rs 43,000 crore as of 31 December 2022 as compared to Rs 30,481 crore as of 31 December 2021, a YoY growth of 41%.

Bajaj Finance is engaged in lending and allied activities. It focuses on consumer lending, small and medium-sized enterprises (SME) lending, commercial lending, rural lending, fixed deposits and value-added services.

On consolidated basis, the company's net profit surged 87.8% to Rs 2,780.65 crore on 29% jump in net sales to Rs 9,972.63 crore in Q2 FY23 over Q2 FY22.

The scrip slumped 7.24% to currently trade at Rs 6098 on the BSE.

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