Bajaj Finance Q4 results: Net profit rises 30% to Rs 3,158 crore; declares dividend of Rs 30 per share

Leading non-banking financial services company (NBFC) Bajaj Finance recorded a rise of 30 per cent in its net profit year-on-year, as it stood Rs 3,158 crore for the quarter ending in March. The profit was Rs 2,419.51 in the same quarter a year ago. The company’s revenue from operations of the financial services arm also witnessed a growth of 24 percent to Rs 11,359.59 crore from Rs 8,626.06 crore in the year-ago quarter. There has been a considerable rise in the net interest income and a fall in the operating expenses and the non-performing assets.

The NII or net interest income of the company rose by 28 percent to Rs 7,771 crore which previously stood at Rs 6,061 crore in the same period a year ago.

Gross non-performing assets for the quarter stood at 0.94 per cent, thereby witnessing a fall from 1.6 percent in the year-ago quarter. Net NPA stood at 0.34 per cent against 0.68 per cent on YoY basis. Operating expenses to the net interest income fell from 34.5 percent in Q4FY22 to 34.1 percent in the March quarter. The company's board has recommended a dividend of Rs 30 per share or 1500 percent of face value of Rs 2 each for the financial year ended 31 March, 2023.

The NBFC said its cost of funds for the quarter stood at 7.39 per cent, up 25 bps over the December quarter. Bajaj Finance delivered an annualised return on asset (ROA) of 5.40 per cent for the quarter compared with 5.29 per cent in the year-ago quarter. Annualised return on equity (ROE) stood at 23.94 per cent against 22.80 per cent YoY. Capital adequacy came in at 24.97 per cent. Tier-1 capital stood at 23.20 per cent.

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