NEW DELHI: Country’s most valuable non-banking lender Bajaj Finance on Wednesday posted a 32% year-on-year increase in consolidated net profit at Rs 3,437 crore for the quarter ending June on record disbursals that sniffed at nearly 10 million new borrowers.
The Pune-headquartered company, which has the highest market capitalisation of over Rs 4.5 lakh crore among non-banking lenders, said the quarter under review saw them adding 38.4 lakh customers, taking the overall customer base to 7.29 crore, a rise of 21% from 6.03 crore a year ago.
It had a record new loan sanctions of 99.4 lahks, which grew 34% on-year. It said excluding a reversal of deferred tax liability of Rs 73 crore, net income grew 30%. Its consolidated total income rose to Rs 12,500.54 crore in the reporting quarter of FY24, against Rs 9,285.86 crore in the year-ago quarter.
Key profitability gauge net interest income rose 26% to Rs 8,398 crore on-year, giving it operating expenses to NII ratio of 34 as against 35.9 in the 12 trailing months.