Submitted by admin on April 29th, 2024
Bajaj Finance Shares slipped about 8 percent on Friday after their March quarter earnings failed to stoke investors’ interest. The stock dropped 7.64 percent to Rs 6, 736.15 on the BSE.
On the NSE, it tanked 7.60 percent to Rs 6, 740. On Thursday, Bajaj Finance reported a jump to Rs 3, 825 crore (21 per cent hike) in consolidated net profit for the first quarter of 2024.
The NBFC (Non-Banking Finance Company) gained a net profit of Rs 3, 158 crore in the same time in 2023.
Total earnings on a consolidated basis during the 1st quarter of 2023-24 increased to Rs 14, 932. In contrast, the company’s gain in the year-ago period was Rs 11,368, Bajaj Finance disclosed in a regulatory filing.
Net interest income jumped 28 percent to Rs 8, 013 during the last quarter of the previous fiscal year against Rs 6, 254 crore a year ago.
At the same time, total expenses leaped Rs 7, 108 crore last year to Rs 9, 830 crore, as per the filling.
Bajaj Finance consolidated results include Bajaj Financial Securities Ltd, Bajaj Housing Finance Ltd, Pennant Technologies Pvt Ltd, and Snapwork Technologies Pvt Ltd.
The company disclosed its net NPAs and gross Non-performing Assets (NPAs) as of March 2024 were 0.37 percent and 0.85 percent respectively.
Int Rates : 10.5% - 22%
Loan Amount: ₹ 1,00,000.00
Maximum Tenure - 7 Years
Lowest EMI : ₹ 1,686
Interest Rate 13.99% - 24.99%
Loan Amount: ₹ 1,00,000.00
Maximum Tenure – 5 Years
Lowest EMI : ₹ 2,326
Interest Rate 9% - 13%
Loan Amount: ₹ 1,00,000.00
Maximum Tenure – 20 Years
Lowest EMI : ₹ 1,014
Interest Rate 8.40% - 12%
Loan Amount : ₹ 1,00,000.00
Maximum Tenure – 35 Years
Lowest EMI – ₹ 739
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Pioneering ease of access to Basic Banking & Financial Services in Rural India
