Bajaj Housing Finance shares rise 4% after Q2 PAT jumps 21% YoY

Shares of Bajaj Housing Finance surged 4% to their day's high of Rs 142.30 on the BSE after the Bajaj Finance-promoted company reported a 21% jump in net profit for the quarter ended September 2024, reaching Rs 546 crore compared to Rs 451 crore in the year-ago period.

The revenue from operations in the reported quarter stood at Rs 2,410 crore, which was up 26% over Rs 1,911 crore posted by the company in the corresponding quarter of the previous financial year. It is the company's first quarterly earnings since its listing on September 16.

The earnings were announced on Monday after market hours.


The company's net interest income (NII) for Q2FY25 increased 13% to Rs 713 crore from Rs 632 crore in Q2 FY24.

Assets under management (AUM) grew 26% to Rs 1,02,569 crore as of September 30, 2024, from Rs 81,215 crore on September 30, 2023.

The profit before tax (PBT) for Q2FY25 increased 23% to Rs 708 crore from Rs 575 crore in Q2FY24.

Its gross NPA and net NPA as of September 30, 2024, stood at 0.29% and 0.12% respectively, as against 0.24% and 0.09% as of September 30, 2023. Provisioning coverage ratio on stage 3 assets stood at 58%, the company filing said.

Loan losses and provisions for Q2FY25 was at Rs 5 crore as against Rs 18 crore in Q2FY24. BHFL holds a management and macro-economic overlay of Rs 44 crore as of September 30, 2024.

Annualised return on average assets for Q2FY25 was 2.5% as against 2.6% in Q2FY24. Annualised return on average equity for 02 FY25 was 13.0% as against 16.1% in Q2FY24.

Also Read: Bajaj Finance Q2 results preview: NII may jump by up to 28% YoY on loan growth, NIMs to decline sequentially

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