[ad_1]
Bajaj Finance is among the top three upper-layer NBFCs as per the Reserve Bank of India (RBI). The deposit-taking investment and credit company reported a consolidated net profit of ₹3,551 crore in the July-September quarter of 2022-23, an increase of 28% from ₹2,781 crore in the same period last year. The company’s consolidated net interest income (NII) for Q2 increased 26% to ₹8,845 crore from ₹7,002 crore in the same quarter last year.
Its assets under management (AUM) grew 33% or ₹20,167 crore to ₹2,90,264 crore as of Q2 FY24 from ₹2,18,366 crore in the year-ago period. The number of new loans booked during the said period grew 26% to 8.53 million against 6.76 million in the same time last year. Bajaj Finance’s customer base recorded 22% growth at 7.6 crore as of September 30, 2023, as compared to 6.2 crore last year.
Separately, on 16 October 2023, the company entered into a binding term sheet with Pennant Technologies for a 26% equity stake for ₹267.50 crore.
[ad_2]
Source link