Bajaj Finance's profits dip, but demand for loans stays strong
Business
Bajaj Finance just posted a 5.6% drop in net profit for the December quarter, landing at ₹4,066 crore.
But here's the twist: even with profits down, their core business is buzzing—net interest income jumped 21%, assets under management shot up 22% to ₹4.85 lakh crore, and they added over a crore new loans.
So while earnings took a hit, demand for their financial products is clearly alive and kicking.
Housing finance arm reports a good quarter
Meanwhile, Bajaj Housing Finance (reported separately) had a great run with profits up 21% and assets growing fast.
Plus, Bajaj Finance's gross non-performing assets stood at 1.21% and net NPA at 0.47%.
In short: even when headline profits slip, the company's customer base keeps growing and its finances look solid underneath.