Bajaj Finance Q1 Results: PAT jumps 32% YoY to Rs 3,437 cr

Bajaj Finance reported a 25.60% increase in net profit for the quarter ended June 30, 2023, at Rs 2959.06 crore, compared to Rs 2355.92 crore for the same period the previous year. The company’s total income climbed by 30.90% to Rs 10665.69 crore in Q1FY24, compared to Rs 8148.05 crore in the previous year’s same period. 

On a consolidated basis, the firm recorded a 32.38% increase in net profit for the quarter that ended June 30, 2023, at Rs 3436.89 crore, compared to Rs 2596.25 crore for the same period the previous year. The company’s total income grew by 34.62% to Rs 12500.54 crore in Q1FY24, compared to Rs 9285.86 crore in the previous year’s same period. 

Bajaj Finance is one of the largest players in the burgeoning consumer finance segment in India and a pioneer in introducing interest-free EMI finance options in many categories, ranging from consumer durables to lifestyle products to groceries. Apart from consumer finance, the company also has substantial business penetration in SME, commercial and rural lending.  

It has deeply invested in Application Programme Interface (API) to integrate specialized applications with customer-facing interfaces like web portals, app infrastructure and BOTS on to a microservices architecture supported by platform as a service (PaaS) infrastructure. 

Bajaj Finance is currently trading at Rs 7514.50, up by 83.45 points or 1.12% from its previous closing of Rs 7431.05 on the BSE. The scrip opened at Rs 7596.95 and has touched a high and low of Rs 7596.95 and Rs 7473.00 respectively. So far 9472 shares were traded on the counter. 

The BSE group ‘A’ stock of face value of Rs 2 has touched a 52-week high of Rs 7999.90 and a 52-week low of Rs 5487.25. Last one week high and low of the scrip stood at Rs 7733.40 and Rs 7333.00 respectively. The current market cap of the company is Rs 455002.41 crore. The promoters holding in the company stood at 55.87%, while Institutions and Non-Institutions held 32.99% and 11.14% respectively. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.