Bajaj Finserv Q3 net profit logs marginal growth

31 Jan 2025 , 10:02 AM

Bajaj Finserv reported a 3.4% y-o-y growth in its Q3 net profit at ₹2,231 Crore as compared to ₹2,158 Crore in the previous corresponding quarter. The company’s revenue, on the other hand, logged a growth of 10% y-o-y at ₹32,042 Crore against ₹29,038 Crore in Q3FY25.

The company registered a 28% increase in its December quarter’s Asset Under Management (AUM) at ₹3,98,043 Crore versus ₹3,10,968 Crore in the previous year’s same quarter.

This growth was supported by a 26% y-o-y gain in AUM from Bajaj Housing Finance, standing at ₹1,08,314 Crore in the quarter under consideration.

As of December 31, 2024, Gross Non-Performing Assets (NPA) remained at 1.12%, with Net NPA at 0.48%, up from 0.95% and 0.37%, respectively, in the same time prior year.

The provisioning coverage ratio for stage three assets is 57%.

Furthermore, the company’s board of directors also approved the appointment of Ramandeep Singh Sahni as the new Chief Financial Officer (CFO).

Bajaj Finance, the main subsidiary of the company, registered a total income of ₹11,673 Crore, up by 26% y-o-y, while net profit registered a growth of 17% to ₹4,246 Crore.

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