Bajaj Finance shares rally over 6%, hit 52-week high after Q3 results; here are the details

Bajaj Finance is a subsidiary of Bajaj Finserv Ltd.

The company had reported a net profit of ₹3,639 crore in the year-ago period.

Total income rose to ₹18,058 crore for the third quarter of the ongoing fiscal year from ₹14,166 crore in the year-ago period, Bajaj Finance said in a regulatory filing.

The consolidated assets under management (AUM) improved 28% to ₹3,98,043 crore at the end of December 2024 compared to ₹3,10,968 crore in the third quarter of last year.

Net interest income (NII) grew to ₹9,382 crore as against ₹7,655 crore logged in the third quarter of FY24.

However, the gross non-performing assets (NPAs) of the company increased to 1.12% from 0.95% during the same period a year ago.

Net NPAs also rose to 0.48% as compared to 0.37% a year earlier.

The company has a provisioning coverage ratio of 57% against 62% on stage 3 assets as of December 31, 2023.

Bajaj Finance: Recent Business Development

Earlier this month, Bajaj Finance and Bharti Airtel announced a strategic partnership to create a digital platform for financial services.

The one-of-a-kind partnership brings together Airtel's customer base of 375 million, about 12 lakh strong distribution networks, and Bajaj Finance's diversified suite of 27 product lines and distribution heft of 5,000 more branches and 70,000 field agents, a joint statement said.

Airtel will initially offer Bajaj Finance's retail financial products on its Airtel Thanks App for a seamless and secure customer experience and later through its nationwide network of stores, it said.

The combined strength of the companies' digital assets will enable Airtel and Bajaj Finance to significantly deepen penetration of financial products and services, it said.