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Bajaj Finance Q2 profit jumps 13% on rising NII
October 23, 2024
|Business Standard
Non-banking financial company Bajaj Finance reported 13 per cent year-on-year (Y-o-Y) growth in its consolidated net profit to ₹4,014 crore in the July-September quarter (Q2FY25), helped by healthy growth in net interest income (NII). NII for consolidated books expanded by 23 per cent (Y-o-Y) to ₹8,838 crore, up from ₹7,196 crore in the same period of the previous year (Q2FY24).
It was a mixed quarter. Good quarter on volumes, AUM & operating efficiencies. Loan losses remained elevated in Q2. As a result, profit growth and Return On Assets (ROA) were muted, Bajaj Finance said in an analyst presentation filed with BSE.
Bajaj Finance stock closed 1.58 per cent lower at ₹6,677.40 per share on the BSE. Its capital adequacy ratio (CAR) stood at 21.69 per cent with Tier I of 20.90 per cent as of September 30, 2024.
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