Bajaj Finance Q1 Update: New loans rise 10% YoY; AUM jumps 31% to Rs 3,54,100 crore

economictimes.indiatimes.com:

Bajaj Finance reported 10% year-on-year growth in new loans booked in the quarter ended June 30, 2024, at 10.97 million compared to 9.94 million it booked in the corresponding period of the last financial year. The company's deposits book stood at approximately Rs 62,750 crore as of June 30, 2024, as compared to Rs 49,944 crore as of June 30, 2023, registering 26% YoY growth.

The assets under management (AUM) grew by 31% to approximately Rs 3,54,100 crore as of June 30, 2024, as compared to Rs 2,70,097 crore on June 30, 2023. AUM in Q1 FY25 grew by approximately Rs 23,500 crore.

In its quarterly update announced on Wednesday post the market hours, Bajaj Finance said the company resumed sanction and disbursal of loans under ‘eCOM’ and ‘Insta EMI Card’ and issuance of EMI cards after the RBI removed the restrictions on these businesses on May 2, 2024.

The above numbers are on a consolidated basis, the company filing said.

More to come...