Bajaj Finance surges on strong Q1FY25 growth and strategic moves

4 Jul 2024 , 03:51 PM

Bajaj Finance’s shares surged over 1% to ₹7,325 on July 4 following a robust 31% YoY increase in assets under management (AUM) for Q1FY25.

Over the past month, the NBFC’s stock climbed over 16%, outpacing the Nifty 50 index’s 11% rise. It had previously hit a 52-week high of ₹8,190 on October 6, 2023.

Bajaj Finance’s AUM rose to ₹3.5 lakh Crore in Q1FY25 from ₹2.7 lakh Crore a year earlier. New loans booked during the quarter increased by 10% YoY to 10.9 million.

The deposit book grew by 26% YoY to ₹62,750 Crore in Q1FY25, with a consolidated net liquidity surplus of nearly ₹16,200 Crore. The company expanded its customer franchise to 88.11 million by June 30, 2024, up from 72.98 million a year ago, with a rise of 4.47 million in Q4 FY24.

Following RBI’s lifting of restrictions on May 2, 2024, Bajaj Finance resumed sanctioning and disbursing loans under ‘eCOM’ and ‘Insta EMI Card’, and began issuing EMI cards.