Adani Enterp. 2544.35↑6.90(0.27%)
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St Bk of India 586.00↑4.75(0.82%)
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UltraTech Cem. 7721.85↑100.10(1.31%)
UPL 688.10↑12.30(1.82%)
Wipro 401.70↑7.60(1.93%)

Bajaj Finance Q3 net up 40% to Rs 2,973 cr; highest ever quarterly profit

Performance was aided by healthy rise in net interest income, drop in provisions and contingencies

Subrata Panda

Premium

Asset quality has shown improvement, with gross NPAs at the end of Q3FY23 at 1.14 per cent

4 min read Last Updated : Jan 27 2023 | 10:30 PM IST

Consumer financier Bajaj Finance reported its highest ever quarterly profit at Rs 2,973 crore in the October-December quarter (Q3) of FY23, up 40 per cent year on year (YoY). The performance was aided by a healthy rise in net interest income (NII) and drop in provisions and contingencies.

The lender's NII rose by 24 per cent YoY to Rs 7,435 crore in the same period, as it booked about 7.84 million loans, its highest-ever in a single quarter, up 5 per cent YoY. Further, it reported its highest-ever customer addition of 3.14 million in the quarter, taking its customer base to 66.05 million as of December, 2022.