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Bajaj Finance Q4FY23 PAT up 30.5% at Rs3,158cr on 28% NII expansion

Apr 26, 2023

By: BlinkX Research Team

Bajaj Finance reported 31.7% surge in total revenues for the March 2023 quarter on consolidated basis at Rs11,360cr. The number of new loans booked in the quarter were up 20% at 75.60 lakhs. On a yoy basis, the customer franchise expanded from 5.76 crore to 6.91 crore. The net interest income (NII) was up 28% yoy at Rs7,771 crore in Q4FY23.

The company also saw a 29% expansion in the assets under management (AUM) to Rs247,379 crore as of March end. The AUM accretion was the highest ever in absolute terms. Loan loss provisions increased in the quarter but the gross NPAs stayed under 1% of the total assets lent. Gross NPAs and net NPAs stood at 0.94% and 0.34% respectively.

Financial highlights for Mar-23 compared yoy and sequentially

	Bajaj Finance Ltd
Rs in Crore	Mar-23	Mar-22	YOY	Dec-22	QOQ
Total Income (Rs cr)	₹ 11,359.59	₹ 8,626.06	31.69%	₹ 10,784.31	5.33%
Operating Profit (Rs cr)	₹ 4,261.13	₹ 3,265.49	30.49%	₹ 4,011.68	6.22%
Net Profit (Rs cr)	₹ 3,157.79	₹ 2,419.51	30.51%	₹ 2,973.00	6.22%

Diluted EPS (Rs)	₹ 52.01	₹ 39.86		₹ 48.96
OPM	37.51%	37.86%		37.20%
Net Margins	27.80%	28.05%		27.57%

The operating expenses ratio to net income ratio fell from 34.5% to 34.1%. The capital adequacy stood comfortable at 24.97% for the quarter. For FY23 overall, the net interest income was up 32% yoy. For FY23 full year, the loan provisions were sharply lower at Rs3,190 crore compared to Rs4,803 crore in the previous fiscal year FY22.