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Bajaj Finance Q2 Results FY2023, PAT at Rs. 1481 crores
Shreya Anaokar
9th December 2022 - 02:05 pm
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.
Business Highlights:
- 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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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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