Bajaj Finance’s share price gained over a percent in early trade on Thursday following a robust business update for the first quarter of FY25.
The non-banking finance company (NBFC) reported a 31% increase in total assets under management (AUM), reaching ₹354,100 crore as of June 30, 2024, compared to ₹270,097 crore in June 2023. AUM grew by approximately ₹23,500 crore in Q1 FY25, according to a regulatory filing by Bajaj Finance.
New loans booked saw a 10% year-on-year (YoY) growth, totaling 10.97 million in the quarter ended June 2024, up from 9.94 million in the same period last year. The company resumed sanctioning and disbursing loans under ‘eCOM’ and ‘Insta EMI Card’ and issuing EMI cards after the RBI lifted restrictions on these businesses on May 2, 2024.
Deposits in Q1 FY25 increased by 26% to ₹62,750 crore, compared to ₹49,944 crore YoY. The customer franchise rose to 88.11 million in June 2024 from 72.98 million in June 2023, with an increase of 4.47 million in Q1 FY25.
Net liquidity surplus stood at approximately ₹16,200 crore at the end of the June quarter, with the company maintaining a strong liquidity position.
Bajaj Finance shares have gained over 11% in the past month, despite underperforming this year with no year-to-date (YTD) returns and a decline of more than 7% over the past twelve months.
At 9:20 am, Bajaj Finance shares were trading flat at ₹7,251.00 apiece on the BSE.
