Bajaj Finance reported a consolidated net profit of Rs 3,824 crore for the quarter ended March 31, 2024. 3,157 crore in the same quarter of the previous financial year, the company has grown by 21 percent year-on-year.
MUMBAI: Bajaj Finance reported a consolidated net profit of Rs 3,824 crore for the quarter ended March 31, 2024. 3,157 crore in the same quarter of the previous financial year, the company has grown by 21 percent year-on-year. The total revenue of the company has also increased by 31.34 percent, reaching 14,926 crore in the March 2024 quarter. The company had earned a revenue of Rs 11,364 crore in the same period of the previous financial year.
The company has declared a final dividend of Rs 36 per share for the financial year ended 31 March 2024. The dividend will be credited on or around July 26, 27, subject to approval by shareholders at the company’s annual general meeting, the company said.
Bajaj Finance reports a consolidated net profit of Rs 3,824.53 crore for the fourth quarter of FY24. https://t.co/OelMvsiBrO#Bajajfinance #Q4FY24 #profits
— Business Standard (@bsindia) April 25, 2024
The company earned a consolidated interest income of Rs 13,230 crore during the January-March period, compared to Rs 9,845 crore in the same period last year. It has increased by 34 percent annually. Meanwhile, interest income increased by 5.6 percent compared to Rs 12,523 crore in the third quarter.
For the full financial year, profit after tax stood at Rs 14,451 crore, compared to Rs 11,507 crore in FY 2022-23. While the total revenue in FY 2024 is Rs 54,969 crore. In FY 2023 it was Rs 41,410 crore. The company’s gross non-performing loans (gross NPA) ratio stood at 0.85 per cent in the quarter ended March 31, 2024, compared to 0.94 per cent in the quarter ended March 2023. Net ‘NPA’ was 0.37 percent in March 2024. It was 0.34 percent in March 2023 quarter.
The number of new loans of the company increased by four per cent year-on-year to 78.7 lakh in the fourth quarter from 75.6 lakh in the same quarter of FY23. Assets under management grew by 34 percent year-on-year to Rs 3,30,615 crore in the March 2024 quarter. The company’s net interest income stood at Rs 8,013 crore for the quarter ended March 2024, up 28 percent from Rs 6,254 crore in the March 2023 quarter.
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