Bajaj Finance Q2 Results FY2023, PAT at Rs. 1481 crores
On 20th October 2022, Bajaj Finance announced its second quarter results for the period ending 30th September 2022.
Q2FY23 Performance updates:
- Net interest income for Q2FY23 increased by 31.2% to Rs. 7,001 crores from Rs. 5,337 crores in Q2FY22.
- Total operating expenses to net interest income for Q2FY23 was 35.9% as against 38.1% in Q2FY22.
- Profit before tax for Q2FY23 increased by 87.2% to Rs. 3,752 crores from Rs. 2,004 crores in Q2FY22.
- Profit after tax for Q2FY23 increased by 87.8% to Rs. 2,781 crores from Rs. 1,481 crores in Q2FY22.
- New loans booked during Q2FY23 grew by 7% to 6.76 million as against 6.33 million in Q2FY22.
- Customer franchises stood at 62.91 million as of 30 September 2022 as compared to 52.80 million as of 30 September 2021, seeing a growth of 19%. The Company's customer franchise grew by 2.61 million in Q2FY23.
- Assets under management (AUM) grew by 31% to Rs. 218.366 crores as of 30 September 2022 fromRs.166,937 crores as of 30 September 2021. AUM in Q2FY23 grew by Rs. 14,348 crores.
- Gross NPA and Net NPA as of 30 September 2022 stood at 1.17% and 0.44% respectively, as against 2.45% and 1.10% as of 30 September 2021. The Company has a provisioning coverage ratio of 62% on stage 3 assets and 120 bps on stage 1 and 2 assets as of 30 September 2022.
The Bajaj Finance share price dropped by 2.93%.
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DisclaimerInvestment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.
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