Bajaj Finance assets crosses Rs3lakh crore in December quarter
The Bajaj Finance company has soared 35% year on year growth in AUM [Asset under Management] accounting for total Rs3.11 trillion as of December 31,2023. The shares of the respective company has surged to 3.98% high up to Rs7,648.4 on the National stock exchange.
The previous year data spotted a nearly growth of Rs20,000 crore in Asset under Management, while standing figures to Rs2.31 trillion in the previous year period. The company's stock has risen 12 percent in the past year, ending half a percent lower at Rs 7,381.20 on the NSE, a day before. The AUM has crossed Rs 3 lakh crore in the December quarter for the first time.
The total franchise of the company stood at 8.4 crore, up by 22 percent year on year. The respective NBFC has acquired 38 lakh new customers against 31 lakh in the year-ago period. The RBI has also warned the company earlier, to stop issuing new loans through its eCOM and Insta EMI Card for non-compliance with digital lending guidelines.
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The company has also witnessed a significant growth in customer franchise, with the number of customers increasing to 80.41 million in quarter third of present fiscal year from 66.05 million in the same quarter of previous year. Meanwhile, the consolidated net liquidity capital surplus of the company stood at Rs11,600 [approximately], as of December end. The deposit book capital is currently standing at Rs58,000 crore [approx] in Q3 of current fiscal year
For FY23, the company reported a 62 percent increase in profit after tax to Rs10,290 crore [US$1.3 billion], driven by a 30 percent increase in net interest income to Rs26,401 crore [US$3.3 billion].
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