Holding Companies firm Bajaj Finserv Announced Q1FY23 Result :
- Consolidated total income : Rs 15,888 crore up 14%
- Consolidated profit after tax : Rs 1,309 crore up 57%
- Total income for Q1 FY23 increased by 38% to Rs 9,283 crore v/s Rs 6,743 crore in Q1FY22.
- Profit after tax for Q1FY23 increased by 159% to Rs 2,596 crore v/s Rs 1,002 crore in Q1FY22 mainly on account of robust AUM growth, higher net interest income and better asset performance. This includes profit after tax of its 100% mortgage subsidiary, BHFL, of Rs 316 crore in Q1FY23 v/s Rs 161 crore in Q1FY22 - an increase of 96%.
- Assets Under Management (AUM) as on 30 June 2022 was Rs 204,018 crore v/s Rs 159,057 crore as on 30 June 2021- an increase of 28%. This includes AUM of Rs 57,425 crore of BHFL, which recorded a growth of 40% over the AUM as on 30 June 2021.
- Gross NPA and Net NPA as on 30 June 2022 stood at 1.25% and 0.51% respectively as against 2.96% and 1.46% as on 30 June 2021. Provisioning coverage ratio of 60% is there on stage 3 assets. BFL holds a management and macro-economic overlay of Rs 1,000 crore as on 30 June 2022.
- Capital adequacy ratio (including Tier-II capital) as on 30 June 2022 stood at 26.16%. The Tier-I capital stood at 23.84%.