MUMBAI: The largest non-banking financier Bajaj Finance has reported a 22% jump in consolidated net income at Rs 4,875 crore for the September quarter.
The net interest income also increased 22% to Rs 10,785 crore, the company said in exchange filings Monday, adding its total income rose 20% to Rs 13,170 crore.
Number of new loans booked rose to 1.22 crore as against 97 lakh in Q2FY25, a growth of 26%, while customer franchise stood at 11.06 crore compared to 92.09 lakh, a growth of 20%. Customer franchise grew by 41.3 lakh in the September quarter.
Loan losses and provisions increased by 19% to Rs 2,269 crore from Rs 1,909 crore and annualised loan losses and provisions to average assets under finance was 2.05%. As a result, gross NPAs and net NPAs stood at 1.24% and 0.60% respectively, as against 1.06% and 0.46%.
Meanwhile, its subsidiary Bajaj Housing Finance, which announced its earnings earlier, had reported a net income growth of 18% to Rs 643 crore in a 34% increased in net interest income to Rs 956 crore. Meanwhile, the AUM had grown by 24% to 126,749 crore.
Shares of Bajaj Finance settled nearly 2% higher on Monday at Rs 1,086.6 on the NSE.