Bajaj Finance on Monday reported a consolidated net profit of Rs 3,639 crore for the October-December period, marking a year-on-year rise of 22.4 per cent but falling short of analysts’ estimates.
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The Pune-headquartered non-banking financial company (NBFC) said its consolidated assets under management (AUM) crossed a milestone of Rs 3,00,000 crore during the course of the quarter.
Its net interest income, or the difference between interest earned and interest paid, stood at Rs 7,655 crore for the quarter ended December 2023 as against Rs 5,922 crore for the corresponding period a year ago, according to a regulatory filing.
According to Zee Business research, the private sector NBFC’s quarterly net profit was estimated at Rs 3,720 crore and NII at Rs 7,470 crore.
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Bajaj Finance said its number of new loan booked increased 26 per cent to 9.86 million in the fiscal third quarter compared with the year-ago period.
Its assets under management (AUM) expanded 35 per cent on a year-on-year basis to Rs 3,10,968 crore, as of December 31, 2023.
The Pune-headquartered company’s pre-provisioning operating profit (PPOP) increased 27 per cent to Rs 6,142 crore for the December quarter.
The firm said its loan losses and provisions stood at Rs 1,248 crore in the quarter under review, as against Rs 841 crore a year ago.
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Bajaj Finance shares ended 1.4 per cent higher at Rs 7,187.5 apiece on BSE ahead of the earnings announcement.
