08-May-2024
Corporate News
 
Bajaj Finance profit rises 21%; asks RBI to review restrictions
26-Apr-2024

The consolidated net profit of Bajaj Finance rose 21% to Rs 3,825 crore year-on-year (y-o-y) in the fourth quarter aided by a growth in assets under management (AUM). This is higher than the Rs 3,785 crore estimated by analysts at Bloomberg. The non-bank lender’s AUM rose 34% y-o-y to Rs 3.3 trillion as on March 31. The number of new loans booked by the lender rose 4% y-o-y to nearly 7.9 million in the March quarter. The NBFC said new loans booked were lower by around 0.8 million in the March quarter on account of the restrictions placed by the RBI.

News Source:- https://www.financialexpress.com/business/industry-bajaj-finance-profit-rises-21-asks-rbi-to-review-restrictions-3468802/