💡 Bajaj Finance – Q1FY23 Results 💡
• Net Interest Income grew by 48% YoY to INR 6,638 Cr
• Net Profit was at INR 1,002.44 Cr, higher by 158.99% YoY
• AUM (Asset Under Management) grew by 28% YoY in Q1FY23 to INR 2,04,018 Cr as of June 30, 2022
HIGHLIGHTS
• New loans booked in Q1FY23 grew by 60% to 74.2 lakh as against 46.3 lakh in Q1FY22
• Loan losses and provisions for Q1FY23 were at INR 755 Cr as against INR 1,750 Cr in Q1FY22
• Gross NPA (Non-Performing Assets) and Net NPA stood at 1.25% and 0.51%, respectively, as against 2.96% and 1.46% in Q1FY22
• Capital adequacy ratio (Tier-I & Tier-II capital) at the end of Q1FY23 was at 26.16%. The Tier-I capital was 23.84%
Results were much better than the estimates, due to which the share shot up by around 9% within the first 2 hours of the market opening. Furthermore upside movement is possible in the near future. But in the short run, the upside movement possibility is less.