Bajaj Finance shares climb 5% after Q3 update; full details

Shares of Bajaj Finance climbed 5 per cent in Thursday's trade after the NBFC in a filing to stock exchanges said its customer franchise as of December 31, 2023, climbed to 8.04 crore compared with 6.60 crore in the corresponding day last year. Bajaj Finance said its customer franchise was up 38.5 lakh sequentially.

New loans booked during the December quarter grew 26 per cent to 98.6 lakh compared with 78.4 lakh in the year-ago quarter, Bajaj Finance said.

The stock rose 4.64 per cent to Rs 7,724.90 on BSE. With this, the stock has gained 16 per cent in the last one year.

Bajaj Finance is a deposit-taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as a NBFC-Investment and credit company (NBFC-ICC). The NBFC is engaged in the business of lending and acceptance of deposits.

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It has a diversified lending portfolio across SMEs (small and medium sized enterprises), commercial and retail customers with presence in both rural and urban India. Bajaj Finance accepts public and corporate deposits and offers an array of financial services products to its customers.

The NBFC said its assets under management (AUM) grew 35 per cent to approximately Rs 3,11,000 crore as of December 31 compared with Rs 2,30,842 crore as on December 31, 2022. AUM in the December quarter grew approximately Rs 20,700 crore, Bajaj Finance said.

The NBFC said its consolidated net liquidity surplus stood at approximately Rs 11,600 crore as of December 31, 2023. Bajaj Finance's liquidity position remains strong. it said adding that its deposits book stood at approximately Rs 58,000 crore as on December 31 compared with Rs 42,984 crore in the year-ago period, a YoY growth of 35 per cent.

 

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