HomeMarket NewsEarnings NewsBajaj Finserv Q1 results: Net profit rises 10%, total income 35% up
Bajaj Finserv also highlighted its asset growth, with total assets under management as of June 30 standing at ₹12,053 crore.
By Anshul July 24, 2024, 12:53:58 PM IST (Published)
Bajaj Finserv on Wednesday (July 24) announced its financial results for the first quarter of FY25. The company reported 10% increase in net profit to ₹2,138 crore, up from ₹1,943 crore in the same period last year.
The company’s total consolidated income surged 35% year-on-year to ₹31,480 crore, up from ₹23,280 crore.
Total assets under management as of June 30, 2024, were reported at ₹12,053 crore.
also resumed the sanction and disbursal of loans under its 'eCOM' and 'Insta EMI Card' schemes, and the issuance of EMI cards, following the RBI’s lifting of restrictions on May 2, 2024.
The gross NPA and net NPA as of June 30, 2024, stood at 1.06% and 0.47%, respectively, compared to 1.09% and 0.39% a year earlier.
However, the company’s shares were trading at ₹1,548.70, down by 2.05% at the time of writing this report.
In a related development, Bajaj Finance, a key subsidiary of Bajaj Finserv, reported a 14% rise in net profit to ₹3,912 crore. The company’s net interest income (NII) for the April-June period grew by 25% year-on-year to ₹8,365 crore.
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