Bajaj Finance books fewer new loans in June quarter over March

In Q1FY22, it booked 4.6 mn new loans while in the previous quarter it had booked 5.47 million. On a YoY basis, there is a 1.5x jump in new loans booked

Consumer financier Bajaj Finance booked fewer loans in the April-June quarter of FY22 (Q1FY22) compared to the January - March quarter of FY21. In Q1FY22, the lender booked 4.6 million new loans compared to 5.47 million loans booked in the previous quarter but from a year-on-year (YoY) perspective, there is a significant improvement in the number of new loans booked, albeit due to a low base.

In Q1FY21, the lender had booked 1.8 million, as the first quarter of the last financial year was marred by the nationwide lockdown to curb the spread of coronavirus.

Assets under management (AUM) of the lender at the end of the June quarter stood at approximately Rs 1.59 trillion (including IPO financing receivable of approximately Rs 2,900 crore), up 15.2 per cent YoY, and 4.6 per cent sequentially.

Its customer franchise at the end of June quarter stood at 50.5 million, up 1.93 million from the previous quarter. During the same time last financial year (Q1FY21), the lender had acquired 0.5 million customers.

It has maintained a healthy capital adequacy ratio of 28.6 per cent as of June 30, 2021, and has surplus liquidity of Rs 10,900 crore on its balance sheet.

Its deposit book at the end of Q1FY22 stood at Rs 28,000 crore, up 8.51 per cent sequentially and almost 40 per cent YoY.

Shares of the lender are trading 3.62 per cent higher than the previous closing price of Rs 6,291.60 at the BSE.