Bajaj Finance Records 4% YoY Growth In New Loans During Q4

Bajaj Finance has announced that its new loans booked rose by 4 per cent to 7.87 million in Q4 FY24 compared to 7.56 million recorded in Q4 FY23. However, the new loans booked during the quarter were lower by 0.80 million due to the restrictions imposed by the RBI on sanctioning and disbursing loans under eCOM and Insta EMI Card.

As of 31 March 2024, the customer franchise stood at 83.64 million, marking an increase from 69.14 million as of 31 March 2023. In Q4 FY24, the customer franchise grew by 3.23 million.

Assets under management (AUM) surged by 34 per cent to approximately Rs 330,400 crore as of 31 March 2024, compared to Rs 247,379 crore as of 31 March 2023. The AUM in Q4 FY24 saw a growth of approximately Rs 19,400 crore.

The consolidated net liquidity surplus stood at approximately Rs 15,700 crore as of 31 March 2024, with the company emphasising that its liquidity position remains robust.

Bajaj Finance's deposits book reached around Rs 60,100 crore as of 31 March 2024, compared to Rs 44,666 crore as of 31 March 2023, reflecting a year-on-year growth of 35 per cent.

Bajaj Finance, a leading and diversified financial services company in India, primarily operates in lending. It maintains a diversified lending portfolio across retail, SME, and commercial customers with a significant market presence.

The NBFC reported a 22.4 per cent increase in consolidated net profit to Rs 3,638.95 crore on a 31.3 per cent rise in total income to Rs 14,165.98 crore in Q3 FY24 compared with Q3 FY23.