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:
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
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