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Bajaj Finance Announced Q1FY23 Result :
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Highest ever consolidated quarterly profit after tax of Rs 2,596 crore in Q1 FY23
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Assets under management crossed a milestone of Rs 200,000 crore in Q1 FY23 and stood at Rs 204,018 crore as of 30 June 2022
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New loans booked during Q1 FY23 grew by 60% to 7.42 million as against 4.63 million in Q1 FY22.
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Customer franchise stood at 60.30 million as of 30 June 2022 as compared to 50.45 million as of 30 June 2021, a growth of 20%. The Company recorded highest ever quarterly increase in its customer franchise of 2.73 million in Q1 FY23
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Assets under management (AUM) grew by 28% to Rs 204,018 crore as of 30 June 2022 from Rs 159,057 crore as of 30 June 2021. Core AUM growth in Q1 FY23 Rs 11,931 crore.
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Net interest income for Q1 FY23 increased by 48% to Rs 6.638 crore from Rs 4.489 crore in Q1 FY22.
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Total operating expenses to net interest income for Q1 FY23 was 35.9% as against 30.6% in Q1 FY22.
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Loan losses and provisions for Q1 FY23 was Rs 755 crore as against Rs 1.750 crore in Q1 FY22.The Company holds a management and macro-economic overlay of Rs 1.000 crore as of 30 June 2022.
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Profit before tax for Q1 FY23 increased by 156% to Rs 3.503 crore from Rs 1,366 crore in Q1 FY22.
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Profit after tax for Q1 FY23 increased by 159% to Rs 2,596 crore from Rs 1.002 crore in Q1 FY22.
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Gross NPA and Net NPA as of 30th June 2022 stood at 1.25% and 0.51% respectively as against 2.96% and 1.46% as of 30 June 2021. The Company has a provisioning coverage ratio of 60% on stage 3 assets and 130 bps on stage 1 and 2 assets as of 30 June 2022.
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Capital adequacy ratio (including Tier-II capital) as of 30 June 2022 was 26.16%. The Tier-I capital was 23.84%
