Bajaj Finance Ltd. reported a 29 percent increase in assets under management, reaching $3.74 crore for the quarter ending September, according to an interim quarterly trading update filed with stock exchanges on Thursday.
The non-banking financial services provider’s loan portfolio increased 14 percent year-on-year, reaching 9.69 million in the second quarter. As of September, the net liquidity surplus was $20,100 crore, and the company’s deposits totaled $66,100 crore, reflecting a year-on-year growth of 21 per cent.
As of September, the net liquidity surplus was $20,100 crore, and the company’s deposits totaled $66,100 crore, reflecting a year-on-year growth of 21 per cent.
Customer franchise as on September 30, 2024 stood at 92.09 million as against 76.56 million as on September 30, 2023. In Q2FY25, customer franchise increased by 3.98 million .
Bajaj Finance performance in the first quarter
Bajaj Finance’s net interest income rose 25 percent in the first quarter, reaching $8,365 crore compared to the same period last year. Total revenue from operations also saw a significant increase, rising 28.8 percent to $16,098 crore for the quarter ending June year-on-year.
Additionally, the lender’s other income saw notable growth, rising 97.8 percent year-on-year to $3.64 crores. However, credit losses and provisions increased by 70 percent to $1,685 crore in the first quarter, as against $995 crore in the same period last year. This increase was attributed to lower collection efficiency, as highlighted in its investor presentation.
The company’s net credit loss on average financed assets was 1.99 percent in the first quarter, with projections set between 1.75 percent and 1.8 percent for financial year 2025.
Additionally, the non-bank financier’s assets under management grew 31 percent year over year, reaching $2.70 lakh crore, compared to $1.80 crore a year ago.
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