Bajaj Finance rises after robust Q2 business update

Shares of Bajaj Finance were trading 1.78% higher at Rs 7,860.55 on BSE in early trade after reporting strong business update for second quarter of fiscal year 2022.

The NBFC major's customer franchise grew 19.7% to 52.8 million as of 30 September 2021 from 44.1 million on 30 September 2020.

The company said it acquired 2.4 million new customers in Q2 FY22 as compared to 1.2 million in Q2 FY21. New loans booked during Q2 FY22 were at 6.3 million as compared to 3.6 million in Q2 FY21.

Assets under management (AUM) grew 21.74% and stood at approximately Rs 166,900 crore as of 30 September 2021 as compared to Rs 137,090 crore as of 30 September 2020. The company further said that the AUM in Q2 FY22, adjusted for IPO financing receivable grew by approximately Rs 10,600 crore.

Bajaj Finance's deposit book stood at approximately Rs 28,700 crore as of 30 September 2021 as compared to Rs 21,669 crore as of 30 September 2020. Deposit book in Q2 FY22 grew by approximately Rs 750 crore

Consolidated liquidity surplus stood at approximately Rs 16,500 crore as of 30 September 2021. The company said its liquidity position remained strong. The NBFC continues to remain well capitalized with capital adequacy ratio (CRAR) of approximately 27.7% as of 30 September 2021.

Bajaj Finance is engaged in lending and allied activities. It focuses on consumer lending, small and medium-sized enterprises (SME) lending, commercial lending, rural lending, fixed deposits and value-added services.

The Bajaj Group company's consolidated net profit rose 4% to Rs 1,002 crore on 1% increase in total income to Rs 6,743 crore in Q1 FY22 over Q1 FY21.

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