Author: Don Obrien

Bajaj Finance rises after robust Q2 business update

Shares of Bajaj Finance were trading 1.78% higher at Rs 7,860.55 on BSE in early trade after reporting strong business update for second quarter of fiscal year 2022.

The NBFC major’s customer franchise grew 19.7% to 52.8 million as of 30 September 2021 from 44.1 million on 30 September 2020.

The company said it acquired 2.4 million new customers in Q2 FY22 as compared to 1.2 million in Q2 FY21. New loans booked during Q2 FY22 were at 6.3 million as compared to 3.6 million in Q2 FY21.

Assets under management (AUM) grew 21.74% and stood at approximately Rs 166,900 crore as of 30 September 2021 as compared to Rs 137,090 crore as of 30 September 2020. The company further said that the AUM in Q2 FY22, adjusted for IPO financing receivable grew by approximately Rs 10,600 crore.

Bajaj Finance’s deposit book stood at approximately Rs 28,700 crore as of 30 September 2021 as compared to Rs 21,669 crore as of 30 September 2020. Deposit book in Q2 FY22 grew by approximately Rs 750 crore

Consolidated liquidity surplus stood at approximately Rs 16,500 crore as of 30 September 2021. The company said its liquidity position remained strong. The NBFC continues to remain well capitalized with capital adequacy ratio (CRAR) of approximately 27.7% as of 30 September 2021.

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.

The Bajaj Group company’s consolidated net profit rose 4% to Rs 1,002 crore on 1% increase in total income to Rs 6,743 crore in Q1 FY22 over Q1 FY21.

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link


Share on facebook
Share on twitter
Share on pinterest
Oliver Bolt

Oliver Bolt

On Key

Related Posts