Shares of non-banking finance company (NBFC) Bajaj Finance rose over 1 per cent in early morning trade on Thursday after the company reported encouraging earnings for the first quarter of FY25.
Bajaj Finance’s total assets under management (AUM) grew 31% ₹3,541 billion as on June 30, 2024. ₹2,70,097 crores as of June 2023.
Assets under management in the first quarter of FY2013 were approximately ₹23,500 crore, Bajaj Finance said in a regulatory filing.
New loans by NBFCs grew 10 per cent to 10.97 million in the fiscal year ended June 2024 as against 9.94 million in the corresponding period last year.
The company resumed sanctioning and disbursement of loans through ‘eCOM’ and ‘Insta EMI Card’ and issuance of EMI cards after the RBI lifted restrictions on these businesses on May 2, 2024.
Deposit balances increased by 26% in the first quarter of FY25; ₹62,750 crore compared to Rs. ₹49,944 crore compared to the previous year.
Bajaj Finance announced that its customer franchise has increased to 88.11 million in June 2024 from 72.98 million in June 2023. In the first quarter of FY25, the customer franchise increased by 4.47 million.
In addition, the net liquidity surplus is approximately ₹The company had secured liquidity of Rs 16,200 crore as at the end of the June quarter and the company’s liquidity position remains strong, it added.
Bajaj Finance shares have been gaining momentum recently, rising over 11% in the past month. Despite this rise, Bajaj Finance shares have underperformed expectations this year, with no year-to-date (YTD) returns and a decline of over 7% in the past 12 months.
At 9.20 am, Bajaj Finance shares were trading flat. ₹7,251.00 per share on the BSE.
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