Bajaj Housing Finance Q2 results: Net profit jumps 21% YoY to Rs 546 crore

The revenue from operations also saw a significant rise, with the company reporting Rs 2,410 crore for Q2FY25.

In Short

• Revenue from operations rose 26% to Rs 2,410 crore
• Net interest income grew 13% to Rs 713 crore
• Assets under management increased 26% to Rs 1,02,569 crore

Bajaj Housing Finance has announced its financial results for the quarter ending September 2024, reporting a notable 21% increase in net profit. The company’s profit for Q2FY25 stood at Rs 546 crore, compared to Rs 451 crore in the same period last year.

The revenue from operations also saw a significant rise, with the company reporting Rs 2,410 crore for Q2FY25. This marks a 26% growth over the Rs 1,911 crore posted in the corresponding quarter of the previous financial year. This quarter is particularly significant as it is Bajaj Housing Finance’s first earnings report since its public listing on 16 September 2024.

The company’s net interest income (NII) for the quarter rose by 13%, reaching Rs 713 crore. In the same quarter last year, the NII stood at Rs 632 crore.

Bajaj Housing Finance also witnessed healthy growth in its assets under management (AUM), which grew by 26% to reach Rs 1,02,569 crore as of 30 September 2024. A year ago, the company’s AUM was Rs 81,215 crore.

The company’s profit before tax (PBT) for Q2FY25 saw a 23% increase, reaching Rs 708 crore compared to Rs 575 crore in the corresponding quarter last year.

Bajaj Housing Finance’s asset quality remained stable during this period. As of 30 September 2024, its gross non-performing assets (NPA) stood at 0.29%, slightly higher than the 0.24% recorded a year earlier. Similarly, net NPA increased to 0.12% from 0.09% as of 30 September 2023. The company's provisioning coverage ratio on stage 3 assets was reported at 58%.