Bajaj Finance reports:
* Consolidated profit after tax of ? 3,158 crore in Q4 FY23 and ? 11,508 crore in FY23
* Consolidated assets under management of ? 247,379 crore as of 31 March 2023
* Highest ever new loans booked of 29.58 million in FY23
* Highest ever increase in customer franchise of 11.57 million in FY23

A meeting of the Board of Directors of Bajaj Finance Limited (BFL) was held today to consider and
approve the audited standalone and consolidated results for the quarter and year ended 31 March
2023.
The consolidated results of BFL include the results of its wholly owned subsidiaries viz. Bajaj Housing Finance
Limited (BHFL), Bajaj Financial Securities Limited (BFinsec) and its associate company viz.
Snapwork Technologies Private Limited (from 26 November 2022).

CONSOLIDATED PERFORMANCE HIGHLIGHTS

CONSOLIDATED PERFORMANCE HIGHLIGHTS – Q4 FY23

* Number of new loans booked during Q4 FY23 grew by 20% to 7.56 million as against 6.28 million in Q4 FY22.

* Customer franchise stood at 69.14 million as of 31 March 2023 as compared to 57.57 million as of 31 March 2022, a growth of 20%. The Company’s customer franchise grew by 3.09 million in Q4 FY23

* Assets under management (AUM) grew by 29% to ? 247,379 crore as of 31 March 2023 from core AUM (i.e. AUM excluding short term IPO financing receivable) of ? 192,087 crore as of 31 March 2022. AUM growth in Q4 FY23 was highest ever at ? 16,537 crore.

* Net interest income for Q4 FY23 increased by 28% to ? 7,771 crore from ? 6,061 crore in Q4 FY22.

* Operating expenses to net interest income for Q4 FY23 was 34.1% as against 34.5% in Q4 FY22. * Loan losses and provisions for Q4 FY23 was ? 859 crore as against ? 702 crore in Q4 FY22. The Company holds a management and macro-economic overlay of ? 960 crore as of 31 March 2023.

* Profit before tax for Q4 FY23 increased by 31% to ? 4,261 crore from ? 3,265 crore in Q4 FY22.

* Profit after tax for Q4 FY23 increased by 30% to ? 3,158 crore from ? 2,420 crore in Q4 FY22.

* Gross NPA and Net NPA as of 31 March 2023 stood at 0.94% and 0.34% respectively, as against 1.60% and 0.68% as of 31 March 2022. The Company has provisioning coverage ratio of 64% on stage 3 assets and 118 bps on stage 1 and 2 assets as of 31 March 2023.

* Capital adequacy ratio (including Tier-II capital) as of 31 March 2023 was 24.97%. The Tier-I capital was 23.20%.

CONSOLIDATED PERFORMANCE HIGHLIGHTS – FY23

* Number of new loans booked in FY23 was highest ever at 29.58 million as against 24.68 million in FY22, recording a growth of 20%.

* Customer franchise stood at 69.14 million as of 31 March 2023 as compared to 57.57 million as of 31 March 2022, a growth of 20%. Customer franchise recorded highest ever increase of 11.57 million in FY23.

* Net interest income for FY23 increased by 32% to ? 28,846 crore from ? 21,894 crore in FY22.

* Operating expenses to net interest income for FY23 was 35.1% as against 34.7% in FY22.

* Loan losses and provisions for FY23 was ? 3,190 crore as against ? 4,803 crore in FY22. The Company holds a management and macro-economic overlay of ? 960 crore as of 31 March 2023.

* Profit after tax for FY23 increased by 64% to ? 11,508 crore from ? 7,028 crore in FY22.

* The Board of Directors has recommended a dividend of ? 30 per equity share of face value of ? 2 (1500%) for FY23 (Previous year ? 20 per equity share of face value of ? 2 each i.e. 1000%).

To Read Complete Report & Disclaimer Click Here

Above views are of the author and not of the website kindly read disclaimer