Bajaj Finance recorded new loans of 7.4 Mn in Q3, increase in the customer franchise to 55.4 Mn; Stocks soar 3%

NBFC-major Bajaj Finance recorded new loans of 7.4 million in the quarter ending December 2021 (T3FY22) compared to 6 million in the same quarter last year. Bajaj Finance stock was on the fast track on Wednesday.

In December 2021, Bajaj Finance’s customer franchise was 55.4 million, compared to 46.3 million as of December 31, 2020. The Company’s customer franchise increased by 2.6 million in the third quarter of the year. fiscal year 22, compared to $ 2.2 million in the third quarter of fiscal year 21.

NBFC’s assets under management (AUM) were approximately Rs181.300cr in December 2021 compared to Rs143.550cr in December 2020. AUM at Q3 FY22, adjusted for IPO funding receivable, increased by ‘approximately Rs14.500cr.

Bajaj Finance pointed out that it had not noticed any negative impact on its NPA due to the new method of recognizing NPAs.

On Tuesday, the NBFC said, “The company has seen no negative impact on its NPA position due to the transition to a new accounting method Advance Classification and Provisioning – Details.”

Bajaj Finance remains well capitalized with a capital adequacy ratio (CRAR) of around 27.0% as of December 31, 2021.

The company’s liquidity position remains strong with a consolidated surplus of approximately Rs14,300cr as of December 31, 2021.

At around 10:44 a.m. Bajaj Finance was trading at Rs 7,564.65 per coin, soaring by Rs 221.90 or 3.02% on Sensex. The stock was near an intraday high of Rs7599 per coin.


Source link