NBFC giant Bajaj Finance reports 30% jump in Q4 net profit to ₹3,158 crore; books record new loans in FY23

• Net interest income for Q4 FY23 increased by 28% to ₹7,771 crore from ₹6,061 crore in Q4 FY22.
• Adding to it, the number of new loans booked during the March quarter grew by 20% to 7.56 million as against 6.28 million in Q4 FY22.
• The board has also recommended a dividend of ₹30 per share for the financial year ending March.

The non-banking financial company (NBFC) giant Bajaj Finance on Wednesday reported a net profit of ₹3,158 crore for the fourth quarter, registering a 30% growth over ₹2,420 crore in the year-ago quarter and beating analysts’ estimates.

The net profit was higher than the ET Now Poll estimate of ₹2,978 crore. For the full year, the net profit came in at ₹11,508 crore, up almost 64% from ₹7,028 crore in FY22.

Net interest income for Q4 FY23 increased by 28% to ₹7,771 crore from ₹6,061 crore a year ago. Adding to it, the number of new loans booked during the March quarter grew by 20% to 7.56 million as against 6.28 million in Q4 FY22.

Besides, the board has also recommended a dividend of ₹30 per share for the financial year ending March.

Consolidated assets under management (AUM) of Bajaj Finance stood at ₹2.47 lakh crore as of 31 March 2023. For the full year, it booked new loans numbering 29.58 million, its highest ever.

Particulars	Q4 FY23	Q4 FY22	FY23	FY22
Number of loans booked	7.56 million	6.28 million	29.58 million	24.68 million
Core AUM	₹2.47 lakh crore	₹1.92 lakh crore	₹2.47 lakh crore	₹1.92 lakh crore
Profit after tax	₹3,158 crore	₹2,420 crore	₹11,508 crore	₹7,028 crore

Gross non performing assets (NPA) and Net NPA as of 31 March 2023 stood at 0.94% and 0.34% respectively, as against 1.60% and 0.68% during the same period last year.

Loan losses and provisions for Q4 FY23 increased to ₹859 crore as against ₹702 crore in Q4 FY22. However, on a yearly basis for FY23 it came down to ₹3,190 crore as against ₹4,803 crore in FY22.

A loan loss provision is an expense that banks set aside for defaulted loans.

The company holds a management and macro-economic overlay of ₹960 crore as of 31 March 2023.

The consolidated results of Bajaj Finance includes the results of its wholly-owned subsidiaries viz. Bajaj Housing Finance, Bajaj Financial Securities and its associate company viz. Snapwork Technologies (from 26 November 2022).

Ahead of the results, shares of the company closed 0.30% lower at ₹6,057 apiece on April 26

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