On Thursday the share price of the large-cap company rose by 4.6 percent to its intraday high of Rs 7,724.9 from its previous close of Rs 7,382.15 after the company announced its business update for the third quarter.
According to Bajaj Finance Ltd, the company’s customer base increased by from 3.85 million in Q3FY23, reaching 80.41 million in Q3FY24 by the end of the year. Loan bookings increased 26 percent year on year to 9.86 million in Q3FY24 as compared to Q3FY23.
Also, the Assets under management (AUM) increased 35 percent to 311,000 crore in Q3FY24. The liquidity position remains robust with a net surplus of Rs 11,600 crore, and deposits grew 35 percent to Rs 58,000 crore in Q3FY24.
According to the company report, the net revenue increased by 34 percent year over year, from Rs 9,970 crore in Q2FY23 to Rs 13,378 crore in Q2FY24. Their revenue also rose 7 percent sequentially from Rs 12,498 crore in Q1FY24 to the current levels.
In addition, the company’s net profit rose by 27 percent year over year, from Rs 2,781 crores in Q2FY23 to Rs 3,551 crores in Q2FY24. Their profit increased by 3 percent on a quarterly basis from Rs 3,437 crore in Q1FY24 to the current levels.
The company has a return on equity of 23 percent, a return on capital employed of 11 percent with a net profit margin of 27 percent.
Bajaj Finance Limited is a large-cap company with a market capitalization of Rs 4,70,748 Crores, the share price of the company rose by 16 percent in the last year.
The company promoter owns 56 percent of the company, the general public owns 11 percent, foreign institutional investors own 20 percent, and domestic institutional investors own 13 percent.
Bajaj Finance is primarily in the lending business. BFL has a diverse lending portfolio that includes retail, SME, and commercial customers, and it has a strong presence in both urban and rural India.
Written by Sriram KV
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