Q2 results review: Bajaj Finance versus Jio Financial - What should you buy post earnings?
₹3,550 crore in Q2FY24, compared to ₹2,781 crore in the corresponding period last year. Net interest income (NII) of Bajaj Finance, on a consolidated basis, in Q2FY24 increased by 26 per cent to ₹8,845 crore from ₹7,002 crore, year-on-year (YoY), according to the company's exchange filing. Its assets under management (AUM) grew 33 per cent YoY to ₹2.9 lakh crore and interest income showed a growth of 38 per cent to ₹11,734 crore.
The company added 35.8 lakh new customers in Q2FY24, taking the total customer base to 7.7 crore as of September 30. Read More: Bajaj Finance Q2 Results: Net profit rises 28% on year to ₹3,550.80 crore, NII up 26% On the other hand, Reliance Industries-backed Jio Financial Services reported a net profit of ₹668.2 crore, doubling from the previous quarter on the back of higher income from operations. The company's total revenues stood at ₹608 crore in the September quarter, up 47 per cent from the sequential quarter.
While interest income in Q2 was lower than in Q1, a dividend income of ₹217 crore in the September quarter propped up total revenues. Read More: Jio Financial Services profit doubles sequentially to ₹668.2 crore in Q2 on higher income Following their impressive quarterly earnings, investors are now confronted with the choice of selecting one between them. (Exciting news! Mint is now on WhatsApp Channels.
Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) The choice between Bajaj Finance and Jio Financial depends on an investor’s risk appetite and investment goal. While both stocks may be attractive bets for the long term, a majority of experts prefer Bajaj Finance to Jio Financial for the short term. Also Read: Bajaj Finance share
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