Bajaj Finance, a major player in the non-banking lending sector, had its share price fall by more than 2% following its release of Q2FY24 results. The share price began at 8,080.95 on October 18, dropping 2.72% on the BSE. Despite the recent drop, Bajaj Finance has shown tenacity, reporting a 27.7% YoY increase in its consolidated net profit for Q2 FY24, reaching 3,550.80 crore. Net interest income (NII) increased by 26% to 8,845 crore, bolstering the company’s strong financial performance.
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Market analysts are assessing the stock’s performance in considering these results. Bajaj Finance has lagged behind the larger market, gaining only roughly 10% in the last year compared to 14% for the Sensex. Regardless, the company’s 52-week high of 8,190 on October 6 indicates earlier investor optimism. The Q2FY24 results show good growth indicators, with assets under management (AUM) increasing by 33% year on year to 2.9 lakh crore, and interest income increasing by 38% to 11,734 crore.
The acquisition of 35.8 lakh new consumers in Q2FY24 increased the total customer base to 7.7 crore as of September 30. As the organization navigates present economic conditions, professional perspectives on prospective strategies and the road ahead are critical for stakeholders evaluating their positions.
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Disclaimer
Investment decisions should be made only after carefully considering one’s personal financial goals and risk tolerance. This information is not intended to be financial advice.
