Bajaj Finance Q2 Results: Net profit rises 28% on year to ₹3,550.80 crore, NII up 26%

livemint.com:

₹3,550.80 crore in the second quarter of FY24, registering a growth of ₹27.7% from ₹2,780.65 crore in the corresponding quarter of last year. Net interest income (NII) of the non-banking finance company (NBFC), on a consolidated basis, in Q2FY24 increased by 26% to ₹8,845 crore from ₹7,002 crore, year-on-year (YoY), according to company's exchange filing.

Also Read: Bajaj Finance Q2 Results LIVE Updates: Net profit rises 27.8% to ₹3,550 crore, NIIs up 26% to ₹8,841 crore Bajaj Finance’s assets under management (AUM) grew by 33% to ₹290,264 crore for the quarter ended September, from ₹218,366 crore as of September 30, 2022. In Q2 FY24, AUM rose by ₹20, 167 crore, as per the NBFC's filing.

Also Read: Bajaj Finance Q1 results: Net profit rises 32% YoY to ₹3,437 crore; asset quality improves In Q2 FY24, there were 8.53 million new loans booked, up from 6.76 million in Q2 FY23—a 26% increase. The customer franchise increased by 22% from 62.91 million on September 30, 2022, to 76.56 million on September 30, 2023.

In Q2 FY24, the company's customer franchise increased by 3.58 million, according to an exchange filing. As of September 30, 2023, Bajaj Finance's consolidated deposits had reached a new high of ₹50,000 crore in Q2 FY24.