Bajaj Finance Q3: A day after the company released its December quarter (Q3 FY25) financial results, shares of Bajaj Finance, the top non-banking financial company (NBFC) in India that provides financial services, surged as much as 6.32% to Rs. 8,250.65 a share on the NSE in early trading on Thursday, January 30.
A division of Bajaj Finserv Ltd. is Bajaj Finance.
On Wednesday, Bajaj Finance said that its December quarter consolidated net profit increased by 18% to Rs. 4,308 crore.
In the same quarter last year, the company generated a net profit of Rs. 3,639 crore.
According to a regulatory filing by Bajaj Finance, total income increased from Rs. 14,166 crore in the same period last year to Rs. 18,058 crore in the third quarter of the current fiscal year.
By the end of December 2024, the consolidated assets under management (AUM) had increased by 28% to Rs. 3,98,043 crore from Rs. 3,10,968 crore in the third quarter of the previous year.
Compared to the Rs. 7,655 crore recorded in the third quarter of FY24, net interest income (NII) increased to Rs. 9,382 crore.
However, compared to the same period last year, the company’s gross non-performing assets (NPAs) climbed from 0.95% to 1.12%. Additionally, net NPAs increased to 0.48% from 0.37% in the previous year.
As of December 31, 2023, the company’s provisioning coverage ratio for stage 3 assets is 57% compared to 62%.
Bajaj Finance: New Developments in the Business
A collaborative agreement to develop a digital platform for financial services was launched earlier this month by Bharti Airtel and Bajaj Finance.
According to a joint release, the unique alliance combines Airtel’s 375 million customers, over 12 lakh robust distribution networks, and Bajaj Finance’s diverse range of 27 product lines, 5,000 more outlets, and 70,000 field agents.
For a smooth and safe consumer experience, Airtel will first provide Bajaj Finance’s retail financial products on its Airtel Thanks App before expanding its nationwide network of outlets, the company announced.
According to the statement, Airtel and Bajaj Finance will be able to greatly increase the penetration of financial goods and services thanks to the combined strength of their digital assets.
