Bajaj Finance Ltd – Q3FY23 Result
31-01-2023

Bajaj Finance Ltd

Market Cap 357,567Cr
CMP
5,906
P/B 7.4

 

Results

(INR Cr)

YoY Growth

Comments

Advances

230,842

27.4%

Steady loan growth across all segments

Net Interest Income (NII)

7,435

23.8%

Net Interest Margin at 13.2% stable on quarterly basis

PAT

2,973

39.9%

Opex to NII declined by 1.2% on quarterly basis to 34.7%

 

Check 10 year X-ray here

 

Key Highlight –

·        Urban B2C (20% of advances) grew by 29%, Rural B2C (8% of advances) grew by 20%, SME Lending (13% of advances) grew by 33%, while housing segment (32% of advances) grew by 26%.

·        Deposits at 21% of borrowing at 42,984 Cr.

·        GNPA & NNPA stood at 1.14% and 0.41% as of Q3 FY23 vs. 1.17% and 0.44% in Q3 FY22.

·        Provisions declined by 20% to 841 Cr.

·        Company acquired approximately 41.5% stake in Snapwork Technologies Private Limited for 92.74 Cr

Management Outlook –

·        Bajaj Finance to launch lending in New Auto Loans in Q2 FY24, Micro Finance in Q4 FY24 and Tractor financing in Q1 FY25.

·        Management aimed to attain market share of 3% of payments GMV, 3-4% of total credit and 4-5% of retail credit.

·        Management expects to grow advances at 25-27% in medium term.

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