Bajaj Finance books new loans of 7.4 Mn in Q3, customer franchise rise at 55.4 Mn; Stock skyrockets 3%

5 Jan 2022 , 10:45 AM

NBFC-major Bajaj Finance booked new loans of 7.4 million in the quarter ending December 2021 (Q3FY22) compared to 6 million in the same quarter last year. On Wednesday, Bajaj Finance stock was in the fast lane.

As of December 2021, Bajaj Finance’s customer franchise stood at 55.4 million increasing from 46.3 million as of 31 December 2020. The Company’s customer franchise increased by 2.6 million in Q3 FY22 as compared to 2.2 million in Q3 FY21.

The NBFC’s asset under management (AUM) stood at approximately Rs181,300cr as of December 2021 as compared to Rs143,550cr as of December 2020. AUM in Q3 FY22, adjusted for IPO financing receivable grew by approximately Rs14,500cr.

Bajaj Finance highlighted that it has not witnessed any adverse impact on its NPA due to the new method of NPA recognition.

On Tuesday, the NBFC said, “the Company has not witnessed any adverse impact on its NPA position due to transition to a new method of NPA recognition as clarified by the RBI vide circular dated 12 November 2021 – “Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances – Clarifications”.”

Bajaj Finance remains well capitalised with a capital adequacy ratio (CRAR) of approximately 27.0% as of 31 December 2021.

The company’s liquidity position stays strong with a consolidated surplus of approximately Rs14,300cr as of 31 December 2021.

At around 10.44 am, Bajaj Finance was trading at Rs7564.65 per piece skyrocketing by Rs221.90 or 3.02% on Sensex. The stock was near the intraday high of Rs7599 per piece.