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Bajaj Finance share price surges as AUM surges 31%, new loan bookings grow 10% YoY in Q1
Bajaj Finance’s share price rose over one per cent in early trade on Thursday after the non-banking finance company (NBFC) reported a strong business update for Q1 FY25.
Bajaj FinanceThe company’s total assets under management (AUM) grew 31% to ₹354,100 crore as of June 30, 2024, compared to ₹270,097 crore in June 2023.
AUM in Q1 FY25 grew by approximately ₹23,500 crore, Bajaj Finance said in a regulatory filing.
New loans registered by NBFCs registered a 10% year-on-year growth to reach 10.97 million in the quarter ended June 2024, as against 9.94 million in the same period last year.
The company resumed sanctioning and disbursement of loans under ‘eCOM’ and ‘Insta EMI Card’ and issuance of EMI cards after the RBI removed restrictions on these businesses on May 2, 2024.
The deposit book in Q1FY25 grew 26% to ₹62,750 crore as compared to ₹49,944 crore a year ago.
Bajaj Finance said its customer franchise increased to 88.11 million in June 2024 from 72.98 million in June 2023. In Q1 FY25, the customer franchise increased by 4.47 million.
Further, the net liquidity surplus stood at approximately ₹16,200 crore at the end of the June quarter, it said, adding that the company’s liquidity position remains strong.
Bajaj Finance shares have gained momentum recently, rising over 11% in the past month. Despite this rally, Bajaj Finance shares have underperformed this year, failing to deliver year-to-date (YTD) returns and declining over 7% in the past twelve months.
At 9:20 am, Bajaj Finance shares were trading at ₹7,251.00 apiece on the BSE.