Bajaj Finance: Q3 show suggests strong comeback, company remains cautious

Festive season demand has lifted new customer addition and loan growth closer to pre-pandemic levels

Initial numbers for the December quarter (Q3) posted by Bajaj Finance turned out to be encouraging. New customer addition at 2.2 million, about 80 per cent jump sequentially, and new loan accounts added at 6 million, growth of 84 per cent sequentially, auger well for the country’s largest consumer financier. With better-than-expected festive season demand and Q3 results — which benefitted from three festivals, Dussehra, Diwali and Christmas (compared to only two a year-ago) — in terms of revenue and net profit growth, Bajaj Finance’s financials may exceed estimates. Yet, its shares were down 1.54 per cent on Tuesday, as