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Q3FY23 Preview: Bajaj Finance: NII seen at Rs58,756 million, PAT at Rs29,370 million

27 Jan 2023 , 07:39 AM

Result date: 27th January, 2023

Recommendation: Add

Target price: Rs8,380

Source: IIFL Research

 

Bajaj Finance is likely to post healthy 30% growth in Assets Under Management (AUM) during the December 2022 quarter. Sequentially, this metric is estimated to grow by 8%. The company could post 24.3% growth in its Net Interest Income over the year-ago quarter. Net income could increase by 22.0%.

Rising cost of funds could pull down the margin during the quarter. Operating expense, too could remain high with the C/I ratio of about 35-36%. 

Improving collections could aid overall asset quality performance of the company. Credit costs could remain flattish sequentially with a downward bias.

Profit After Tax or PAT could grow 38.2% over the year-ago quarter.

Important management insights to watch out for:

  • Growth outlook across key segments
  • Margin drivers and outlook
Rs. Million

December 2022 estimates

YoY change

QoQ change

NII 

58,756

24.3%

6.1%

Net Income 

73,247

22.0%

4.6%

Operating profit

46,835

19.5%

4.4%

Profit After Tax 

29,370

38.2%

5.6%

Source: Brokerage reports

 

Related Tags

  • Bajaj Finance
  • Bajaj Finance Q3
  • Bajaj Finance Q3 preview
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