Bajaj Finance Q1 Results FY2023, PAT at Rs. 2596 crores

Shreya Anaokar 9th December 2022 - 12:33 pm

On 27th July 2022, Bajaj Finance announced its quarterly results for the first quarter of FY2023.

Q1FY23 Key Highlights:

- The company reported its total income at Rs. 9283 crores with a growth of 37.66% YoY.

- The company reported its Net interest income at Rs. 6638 crores with a growth of 47.87% YoY.

- The profit before tax was reported at Rs. 3503 crores with a yearly growth of 156.44%

- Bajaj Finance reported its PAT at Rs. 2596 crores with a growth of 159% YoY.

Business Highlights:

- New loans booked during Q1FY23 by the company grew by 60% to 7.42 million as against 4.63 million in Q1FY22.

- Customer franchise stood at 60.30 million in Q1FY23 as compared to 50.45 million in Q1FY22, a growth of 20%. The Company recorded the highest ever quarterly increase in its customer franchise of 2.73 million in Q1FY23.

- The company’s Assets under management (AUM) grew by 28% to Rs. 204,018 crores in Q1FY23 from Rs. 159,057 crores in Q1FY22. Core AUM growth in Q1FY23 was Rs. 11.931 crores.

- The Gross NPA and Net NPA for Q1FY23 stood at 1.25% and 0.51% respectively as against 2.96% and 1.46% in Q1FY22. The company has a provisioning coverage ratio of 60% on stage 3 assets and 130 bps on stage 1 and 2 assets for Q1FY23.

- The capital adequacy ratio (including Tier-2 capital) for Q1FY23 was 26.16%. The Tier-1 capital was 23.84%

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Shreya Anaokar

Disclaimer: Investment/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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