Shares of this non banking finance company have gained about 1.5 percent in the last 5 trading days, and the company has shown robust growth YOY in every aspect.
At 11.21, 4th October shares of Bajaj Finance Ltd were trading at Rs. 7,923 per share, and gained 1.48 percent in the last 5 trading days.
Such bullish stock price movements are observed after the company announced through a regulatory filing at Bombay stock exchange (BSE) that in the September quarter of 2023, company’s asset under management (AUM) increased by 33 percent to 290,200 crores. Loans booked in Q2FY24 are 26 percent higher to 8.53MM as compared to 6.76 MM in Q2FY23. Moreover, deposits witnessed YOY growth of 39 percent to 54,800 crores as of September 2023 from 39,422 crores as of September 2022.
Looking at the financial statements, company’s revenue increased by 34.66 percent to Rs. 12,497 crores in Q1FY24 from Rs. 9,280 crores in Q1FY23, in the same time period net profit increased by 32.38 percent to Rs. 3,436.89 crores from 2,596.25 crores.
Talking about the financial ratios, the company reported return on equity (ROE) of 23.7 percent and return on capital employed (ROCE) of 11.76 percent.
Bajaj Finance Ltd is mainly engaged in the business of lending, the company has diversified lending portfolio in retail, SMEs and commercial customers with a significant presence in urban and rural India.
Written by: Vinit Israni
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