Bajaj Finance reports 34% y-o-y growth in Q1FY24 new loan bookings; stock surges ~8%

4 Jul 2023 , 09:55 AM

Bajaj Finance Limited announced its numbers for the quarter ended June 30, 2023. The non-bank lender has reported a growth of 34% y-o-y in new loan bookings during the first quarter of FY24. The loan bookings stood at 9.94 MM compared to 7.42 MM in the previous corresponding period.

The company said that its Assets Under Management (AUM) grew by approx. 32% y-o-y to Rs 270,050 crore as of June 30, 2023, as compared to Rs 204,018 crore in the same quarter of the previous year.

The NBFC said that it has logged the highest-ever quarterly increase in its AUM of about Rs 22,700 crore in Q1FY24.

The NBFC’s deposit book was approximately Rs 49,900 crore as of June 30, 2023, as against Rs 34,102 crore as of June 30, 2022, representing a 46% y-o-y increase.

According to the press release, the customer franchise stood at 72.98 MM as of June 30, 2023, compared to 60.30 MM as of June 30, 2022. In the first quarter of FY24, the NBFC lender experienced its highest-ever quarterly increase in customer franchise, totaling 3.84 million.

Furthermore, the NBFC stated that as of June 30, 2023, the consolidated net liquidity surplus was approximately Rs 12,700 crore, and the company’s liquidity position remained strong.

At around 12.49 PM, Bajaj Finance was trading 7.73% higher at Rs 7,900.10 per piece, against the previous close of Rs 7,333 on NSE. The counter surged to a 52-week high of Rs 7,920 in today’s trade.

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