Bajaj Finance net jumps 32%

Mumbai: The most valuable non-banking lender Bajaj Finance on Wednesday reported a 32 per cent on-year growth in consolidated net profit to Rs 3,437 crore for the June quarter on record disbursals that sniffed at almost 10 million new borrowers. The Pune-headquartered company, which has the highest market capitalisation of more than Rs 4.5 lakh crore among non-banking lenders, said the quarter under review saw them adding 38.4 lakh customers, taking the overall customer base to 7.29 crore, up 21 per cent from 6.03 crore a year ago.

The company had a record new loan sanctions of 99.4 lakh, which grew by 34 per cent on-year. The company said excluding a reversal of deferred tax liability of Rs 73 crore, net income grew 30 per cent. Its consolidated total income rose to Rs 12,500.54 crore in the April-June quarter of FY24, against Rs 9,285.86 crore in the year-ago quarter.