Shares of Bajaj Housing Finance to remain in focus today as the newly listed housing finance company posted reported a 21% year-on-year (YoY) increase in net profit at Rs 545.6 crore for the second quarter that ended September 30, 2024.
Bajaj Housing Finance’s Q2FY25 Performance
The company posted a 21% year-on-year (YoY) increase in net profit, reaching Rs 545.6 crore in Q2 FY25, compared to Rs 451 crore in the same quarter last year. Profit before tax (PBT) also showed significant improvement, rising 23% to Rs 708 crore from Rs 575 crore in Q2 FY24.
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Bajaj Housing Finance’s revenue from operations for Q2 FY25 climbed 26%, reaching Rs 2,410 crore, up from Rs 1,911 crore in the corresponding period of the previous financial year.
The company maintained a healthy asset quality with gross non-performing assets (NPA) at 0.29% and net NPA at 0.12% as of September 30, 2024, compared to 0.24% and 0.09%, respectively, at the same time last year.
Bajaj Housing Finance’s assets under management (AUM) increased by 26%, reaching Rs 1,02,569 crore as of September 30, 2024. This marks a substantial rise from Rs 81,215 crore recorded on September 30, 2023.
Growth seen in NII and Net Total Income
The company’s net interest income (NII) for the reported quarter grew by 13%, totaling Rs 713 crore compared to Rs 632 crore in Q2 FY24. Additionally, net total income rose 18% YoY to Rs 897 crore, up from Rs 761 crore in the same quarter last year.
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The company maintained a healthy asset quality with gross non-performing assets (NPA) at 0.29% and net NPA at 0.12% as of September 30, 2024, compared to 0.24% and 0.09%, respectively, at the same time last year.
Stock Performance Since Listing
Bajaj Housing Finance shares have delivered negative returns since their listing. Over the past week, the stock has fallen by 9.48%, while over the last month, it has declined by 14.70%. Since its debut, the stock is down by 17.22%, reflecting continued pressure on its performance.
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