Bajaj Finance Reports 22% Surge In Q3 Net Profit, Reaches Rs 3,639 Cr
Bajaj Finance reported a consolidated net profit of Rs 3,638.95 crore for the October-December quarter, marking a 22.4 per cent increase from the same period the previous year, in line with market expectations. According to a media house poll, the lender's consolidated net profit was anticipated to rise by 25 per cent year-on-year to Rs 3,716 crore.
Analysts estimate that the net interest income is likely to increase by 26 per cent year-on-year to Rs 9,344 crore, driven by stable asset quality and robust growth in assets under management (AUM).
On 3 January, Bajaj Finance announced provisional numbers for the December quarter AUM, surpassing the Rs 3 lakh crore mark for the first time, with a 35 per cent year-on-year surge, propelled by a robust festive season. The deposit book also grew by 35 per cent to Rs 58,000 crore during the quarter, and the company booked 98.6 lakh new loans, reflecting a year-on-year growth of 26 per cent.
