24 Jul 2023 , 06:02 PM
Result date: 26th July, 2023
Recommendation: Add
Target price: Rs. 6,550
(Source: IIFL Research)
Bajaj Finance’s loan book grew 32% over the year-ago quarter. The company’s Net Interest Income (NII) could grow 25.9% relative to the year-ago quarter.
As cost of funds are likely to inch up a little, Bajaj Finance’s Net Interest Margin (NIM) could remain flat. This, along with high cost-to-average AUM ratio could have some bearing on overall profitability in the quarter.
Bajaj Finance’s asset quality is expected to be stable among declining credit costs.
The company’s Profit After Tax (PAT) could surge 30.55% over the year-ago quarter.
Important management insights to watch out for:
Rs. Million |
June 2023 estimates |
YoY change |
QoQ change |
NII |
66,409 |
25.90% |
6.20% |
PPOP |
54,610 |
28.30% |
6.68% |
Profit After Tax |
33,858 |
30.55% |
7.16% |
Source: Brokerage Reports
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