Bajaj Finance logs 34% growth in Q4 AUM; stock slips ~1%

5 Apr 2024 , 02:12 PM

Bajaj Finance shares were roughly 1% down on April 5 after the non-banking financing company claimed a 34% increase in assets under management and a robust client base in a business update.

Bajaj Finance’s assets under management (AUM) increased by 34% year-on-year (YoY) to ₹330,400 Crore in the March quarter, according to the company’s statement. Its customer franchise increased to 83.64 million from 69.14 million the previous year, while new loans increased by 4% to 7.87 million from 7.56 million.

During the same time, the consolidated net liquidity surplus was at ₹15,700 Crore, and the deposits book increased to ₹60,100 Crore from ₹44,666 Crore.

According to the corporation, the new loan book’s development was slower due to RBI constraints on the sanctioning and disbursement of loans under its eCOM and Insta EMI Card.

At around 2.03 PM, Bajaj Finance was trading 1.17% lower at ₹7,198 per piece, against the previous close of ₹7,283.40 on NSE. The counter touched an intraday high and low of ₹7,259 and ₹7,156, respectively.

According to analysts, Q4FY24 pre-quarter AUM was marginally higher than their forecast of 33%. The consumer base grew at a robust 21% year-on-year.

A significant failure was in new loan bookings, which decreased from 26% YoY (QoQ). The new loan reservations may have been 15% higher if not for restrictions on eCom and Insta EMI Card,” the study noted.

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