Bajaj Finance reported a 21% year-on-year (YoY) increase in its consolidated fourth-quarter profit for the 2024 financial year, reaching ₹3,825 crore up from ₹3,157 crore in the same period last fiscal.

The Earnings: The NBFC lender’s revenue from operations for the quarter under review rose 5% to ₹12,760 crore from ₹12,102 crore in Q4 FY23. Net interest income (NII) was at ₹8,013 crore. Net total income grew by 25% to ₹ 9,714 crore as against ₹ 7,775 crore in Q4 FY23.

Bajaj Finance’s board recommended a dividend of ₹36/share.

The company’s Assets under Management (AUM) saw a 34% growth to ₹3.3 lakh crore as of March 31, 2024, from ₹2.47 lakh crore in Q4 FY23.

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The company also recorded a gross NPA (non-performing asset) of 0.27% and a net NPA of 0.10%, improved from 0.22% and 0.08%, respectively, in the corresponding period last fiscal.

Axis Securities expected leading NBFC Bajaj Finance to report healthy growth in both bottom line and topline for the quarter ended March 2024.

Analysts expected the net profit for the fourth quarter to rise by up to 22% year-on-year, while they anticipated the net interest income (NII) for the same period to grow by up to 30% year-on-year.

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