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Bajaj Finance Q1 Results FY23

28 July 2022

Bajaj Finance, one of India’s leading NBFCs, announced its Q1FY23 results on 27th July, 2022.

The company reported the highest ever consolidated profit after tax (PAT) of ~Rs. 2,596 crores in the quarter under review, surging a stellar 159% Y-o-Y (year on year) over the Rs. 1,002 crores reported in Q1 FY22. A rise in income through interest, fees and commissions, and also conscious efforts to control expenses have been reported as the reasons behind the stupendous performance. 

The total income of Bajaj Finance was published at Rs. 9,283 crores, up ~38% Y-o-Y from Rs. 6,743 crores in the same quarter of the previous year. Net interest income for Q1FY23 increased by 48% to Rs. 6.638 crores from  Rs. 4,489 crores last year. 

Assets under management (AUM) crossed a milestone of Rs. 200,000 crores in Q1FY23, coming in at ~Rs. 204,018 crores as of 30 June 2022. New loans booked during the quarter rose by 60% to 74.2 lakhs as against 46.3 lakh last year. 

Wit improving business conditions, the company also experienced better loan recoveries. Gross NPA as of 30 June 2022 came in at 1.25% against the 2.96% reported last year. Net NPA stood at 1.46%. 

The basic EPS of the company came in at 39.04 against 14.00 last year. Bajaj Finance script closed 2.32% higher to Rs. 145.15 on cues of a positive quarterly result. 

Highlights of subsidiaries

  • Bajaj Housing Finance Limited 
  • Assets under management grew by 40% Y-o-Y to Rs. 57,425 crores from Rs. 40,941 crores
  • Net interest income jumped  77% to Rs. 594 crores against Rs. 335 crores last year.
  • Profit after tax increased an impressive 96% Y-o-Y to Rs. 316 crores from Rs. 161 crores  
  • Gross NPA and Net NPA as of 30 June 2022 stood at 0.27% and 0.11%, respectively, as against 0.28% and 0.18% last year. 

 

  • Bajaj Financial Securities Limited (BFinsec)
  • Customers acquired during the quarter stood around 36,500. 
  • Margin trade financing (MTF) book was published at Rs. 741 crores for the quarter ended June against Rs. 200 crores last year.
  • Total Income record came in at Rs. 38 crores as against ~ Rs. 15 crores last year
  • BFinsec generated profit after tax (PAT) of Rs. 1 crore against a loss of Rs. 3 crores for the corresponding quarter last year.

Hits

  • Profit before tax increased by 159% to Rs. 2,596 crores from Rs. 1,002 crores in Q1FY22.
  • Net interest income jumped 48% to Rs. 6,638 crores from Rs. 4,489 crores last year. 
  • Total operating expenses to net interest income for Q1FY23 was 35.9% as against 30.6% in Q1FY22.
  • New loans booked grew by 60% to 74.2 lakh as against 46.3 lakh last year. 
  • AUM grew by 28% to Rs. 204,018 crores from Rs. 159,057 crores as of 30 June 2021. 
  • Loan losses and provisions for the quarter were published at Rs. 755 crores as against Rs. 1,750 crores last year. 
  • Gross NPA and Net NPA as of 30 June 2022 came in at 1.25% and 0.51%, respectively. as against 2.96% and 1.46% last year. 
  • Customer franchise stood at 6.030 crores compared to 5.045 crores last year, registering a growth of 20%. The company recorded the highest ever quarterly increase in its customer franchise of 27.3 lakh in Q1FY23. 

Other things to know

  • Bajaj finance ltd is primarily engaged in the business of lending, with diversification across retail, SME and commercial customers, in both rural and urban areas. 
  • The company’s market capitalisation stood at Rs. 3,87,538 crores
  • Bajaj’s RoCE (return on capital employed) and RoA (return on assets) came in at Rs. 10.3% and 17.5%, respectively
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