Bajaj Finance Ltd on Wednesday reported its highest-ever consolidated quarterly internet revenue at ₹2,596 crore for the June quarter, helped by sturdy revenue on account of brisk mortgage development.
The corporate had reported a internet revenue of ₹1,002 crore within the year-ago interval.
Complete revenue rose by 38 per cent to ₹9,283 crore in the course of the June quarter as in opposition to ₹6,743 crore in corresponding quarter final yr, Bajaj Finance mentioned in a regulatory submitting on Wednesday.
“Buyer franchise stood at 60.30 million (6.03 crore) as of June 30, 2022 as in comparison with 50.45 million (5.05 crore) as of June 30, 2021, a development of 20 per cent. The corporate recorded highest ever quarterly enhance in its buyer franchise of two.73 million (27.3 lakh) in Q1 FY23,” it mentioned.
Curiosity revenue grew by 33 per cent within the first quarter of FY23 to ₹7,920 crore when put next with ₹5,954 crore in the identical quarter of FY22.
New loans booked by the Non-Banking Finance Firm (NBFC) jumped by 60 per cent in the course of the quarter below evaluation to 74.2 lakh from 46.3 lakh within the previous yr.
Belongings Below Administration (AUM) rose by 30 per cent to ₹2,04,018 crore on the finish of June 2022 from ₹1,59,057 crore within the earlier yr.
The NBFC arm of the Bajaj group mentioned its mortgage losses and provisions for the quarter got here down at ₹755 crore as in opposition to ₹1,750 crore final fiscal.
On the asset high quality, the corporate’s gross NPAs (Non-Performing Belongings) in the course of the interval below evaluation fell to 1.25 per cent and internet NPAs at 0.51 per cent, as in opposition to 2.96 per cent and 1.46 per cent, respectively on the finish of June 2021.
Capital adequacy ratio (together with Tier-II capital) within the June quarter was 26.16 per cent. The Tier-I capital was 23.84 per cent.
The consolidated earnings embrace outcomes from subsidiaries – Bajaj Housing Finance and Bajaj Monetary Securities.
“On April 7, 2022, the corporate has invested an quantity of ₹2,500 crore in Bajaj Housing Finance (BHFL), a wholly-owned subsidiary of the corporate by subscribing to 1,828,822,235 fairness shares of face worth of ₹10 every for money at ₹13.67 per share, supplied on rights foundation,” Bajaj Finance mentioned.
On Wednesday, shares of the corporate rose 2.14 per cent to shut at ₹6,393.75 apiece on BSE.