Bajaj Finance Ltd - Q1 FY24 Business Update

Bajaj Finance Ltd has announced the business updates on consolidated basis with respect to the quarter ended 30 June 2023:

1. Customer franchise as of 30 June 2023 stood at 72.98 MM as compared to 60.30 MM as of 30 June 2022. The Company recorded highest ever quarterly increase in its customer franchise of 3.84 MM in Q1 FY24.

2. New loans booked during Q1 FY24 grew by 34% to 9.94 MM as compared to 7.42 MM in Q1 FY23.

3. Assets under management (AUM) grew by 32% to approximately ₹ 270,050 crore as of 30 June 2023 as compared to ₹ 204,018 crore as of 30 June 2022. The Company recorded highest ever quarterly increase in its AUM of approximately ₹ 22,700 crore in Q1 FY24.

4. AUM mix remained stable in Q1 FY24.

5. Consolidated net liquidity surplus stood at approximately ₹ 12,700 crore as of 30 June 2023. The Company's liquidity position remains strong.

6. Deposits book stood at approximately ₹ 49,900 crore as of 30 June 2023 as compared to ₹ 34,102 crore as of 30 June 2022, a YoY growth of 46%.

The above information with reference to 30 June 2023 is provisional and subject to review by the statutory auditors of the Company.

Shares of Bajaj Finance Limited was last trading in BSE at Rs. 7335.35 as compared to the previous close of Rs. 7159.30. The total number of shares traded during the day was 63894 in over 8780 trades.

The stock hit an intraday high of Rs. 7356.30 and intraday low of 7155.45. The net turnover during the day was Rs. 465363175.00.

Source : Equity Bulls

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BajajFinance INE296A01024 Q1FY24 BusinessUpdate