Bajaj Finance Reports 18% Increase in Q3 Profit to Rs 4,308 Crore
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Synopsis
Bajaj Finance Limited has reported an 18% increase in consolidated net profit for Q3 FY25, amounting to Rs 4,308 crore. The company also noted significant growth in net interest income and assets under management, despite a slight decline in asset quality.
Key Takeaways
- Consolidated net profit: Rs 4,308 crore
- Net interest income: Rs 9,382 crore
- AUM: Rs 3.98 lakh crore
- GNPA: 1.12%
- CRAR: 21.57%
Mumbai, Jan 29 (NationPress) Bajaj Finance Limited announced an impressive 18 per cent year-on-year (YoY) growth in its consolidated net profit for the third quarter (Q3) of FY25, amounting to Rs 4,308 crore.
The company's net interest income (NII) experienced a remarkable increase of 23 per cent YoY, reaching Rs 9,382 crore, compared to Rs 7,655 crore in the same quarter last year.
The assets under management (AUM) surged by 28 per cent to Rs 3.98 lakh crore as of December 31, 2024, up from Rs 3.11 lakh crore a year prior.
However, the company's asset quality saw a slight decline as gross non-performing assets (GNPA) rose to 1.12 per cent, up from 0.95 per cent a year earlier.
Likewise, net non-performing assets (NNPA) increased to 0.48 per cent from 0.37 per cent.
The provisioning coverage ratio on stage 3 assets was recorded at 57 per cent.
Loan loss provisions sharply rose to Rs 2,043 crore in Q3 FY25, compared to Rs 1,248 crore in the same period last year.
As a percentage of average assets under finance, loan losses and provisions stood at 2.16 per cent.
The capital adequacy ratio (CRAR), including Tier-II capital, was noted at 21.57 per cent, with Tier-I capital at 20.79 per cent as of the end of Q3 FY25.
Bajaj Finance shares experienced a 2 per cent increase, closing at Rs 7,760 per share on the NSE.
The company's housing finance division, Bajaj Housing Finance, recorded a 25 per cent rise in profit after tax, reaching Rs 548 crore compared to Rs 437 crore in the same period last year.
Its AUM grew by 26 per cent to Rs 1.08 lakh crore from Rs 85,929 crore a year ago.
The company's net interest income (NII) increased by 25 per cent YoY to Rs 806 crore in Q3 FY25.
Meanwhile, the asset quality remained stable, with GNPA at 0.29 per cent and NNPA at 0.13 per cent as of December 31, 2024.
Bajaj Housing Finance maintained a provisioning coverage ratio of 55 per cent on stage 3 assets, while its CRAR stood at a robust 27.86 per cent.
