Bajaj financing’s stock rose more than 1% in early trading on Thursday after the non-banking financing company (NBFC) published a solid business update for the first quarter of FY25.
As of June 30, 2024, Bajaj Finance’s total assets under management (AUM) increased by 31% to ₹354,100 crore, from ₹270,097 crore in June 2023.
According to Bajaj Finance’s regulatory filing, AUM increased by roughly ₹23,500 crore in Q1 FY25.
The NBFC’s new loans booked increased by 10% year on year (YoY) in the quarter ended June 2024, to 10.97 million from 9.94 million in the same period the previous year.
On May 2, 2024, the RBI lifted the limitations on these firms, allowing the company to restart the approval, disbursement, and issuance of loans under the “eCOM” and “Insta EMI Card” programs.
Compared to ₹49,944 crore YoY, the deposits book climbed 26% in Q1FY25 to ₹62,750 crore.
As of June 2024, Bajaj Finance reported that their client base has grown from 72.98 million in June 2023 to 88.11 million. There was a 4.47 million growth in customer franchise in Q1 FY25.
Furthermore, it stated that the company’s liquidity position is still robust and that the net liquidity surplus at the end of the June quarter was roughly ₹16,200 crore.
The shares of Bajaj Finance have increased by more than 11% throughout the last month as they have gained pace. Despite this surge, Bajaj Finance’s stock has underperformed this year; it has lost more than 7% over the last twelve months and has not returned any money year to date (YTD).
At 9:20 a.m., shares of Bajaj Finance were trading on the BSE at ₹7,251.00 a share.
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