New Delhi: Bajaj Finserv has reported a 31 per cent jump in its net profit at Rs 1,769 crore for the quarter ended March 31, 2023, as against Rs 1,364 crore in a year-ago period. Total revenue grew by 25 per cent to Rs 23,625 crore as against Rs 18,862 crore in the same period last year. Bajaj Finserv said in a statement shared with the exchanges on Thursday evening that it remains a debt-free company. Bajaj Finserv’s surplus funds (excluding group investments) stood at Rs 1,709 crore as on March 31, 2023.
Bajaj Finserv also said its total income grew 32 per cent to Rs 11,363 crore in the quarter under review, as against Rs 8,629 crore in the year-ago period. It said the capital adequacy is 24.97 per cent as on March 31, 2023, as against 27.22 per cent as on March 31, 2022.
The company’s profit after tax is projected to increase by 64 per cent to Rs 11,508 crore in FY2023, as against Rs 7,028 crore during FY22. Total income grew to Rs 41,406 crore in FY22 as against Rs 31,648 crore in FY22. It said it acquired 30.9 lakh new customers in Q4 FY23, as against 22.1 lakh in Q4 FY22. Net Interest Income (NII) for Q4 FY23 was Rs. 7,771 crore as against Rs.6,061 crore in Q4 FY22.
Gross non-performing assets (GNPA) and net non-performing assets (NNPA) stood at 0.94 per cent and 0.34 per cent as on March 31, 2023, as against 1.6 per cent and 0.68 per cent as on March 31, 2022.