India’s leading non-banking financial services company Bajaj Finserv Ltd posted its quarterly results for Q4 FY22. The company posted a 7.2%% QoQ jump in its PAT which came in at Rs 1,346 crore in the quarter under review from Rs 1,255 crore in the previous quarter. On a YoY basis, the PAT jumped 37.4% to Rs 1,346 crore from Rs 979 crore in the year-ago period.
Bajaj Finserv’s interest income was largely flat on a sequential basis, while there was a 19.7% YoY increase in the company’s interest income to Rs 8,382 crore from Rs 6,999 crore in the corresponding quarter in the previous financial year. This was attributable to several factors, one of which was lower auto sales that impacted Bajaj Finserv’s insurance business.
The company’s revenue from operations was up 7.2% QoQ to Rs 8,382 crore in the March 2022 quarter from Rs 17,586 crore in the previous quarter. On a YoY basis, the revenue from operations was up 22.5% to Rs 18,861 crore from Rs 15,387 crore in the year-ago period. This was mostly due to improved business conditions in the period between January 2022 to March 2022.
Bajaj Finserv recorded its highest ever assets under management and annual consolidated profit after tax in FY22. Customer franchise stood at 5.7 crores as of 31 March 2022 as compared to 4.85 crores as of 31 March 2021 – an increase of 19% YoY. Customer franchise recorded the highest ever increase of 90 lakh in FY22.
The company’s board recommended a dividend of Rs 4 per share on April 28, 2022.
Read more on Groww: Bajaj Finance Q4 FY2022
As per the company’s statement, the business conditions improved significantly in Q4 of FY22. But market conditions were volatile due to the outbreak of war in Ukraine. Although lower sales of automobiles due to supply chain problems affected the general insurance business, the overall environment was conducive and all businesses of the company recorded excellent growth.
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Research Analyst: Bavadharini KS