Bajaj Housing Finance's Stellar Growth Amidst IPO Launch

Bajaj Housing Finance reported a 21% growth in net profit to Rs 546 crore for the September quarter, post its recent IPO listing. The company's total income rose to Rs 2,410 crore, with a notable increase in interest income. Asset quality showed minor decline.

Bajaj Housing Finance announced a robust 21% growth in net profit, reaching Rs 546 crore for the September quarter, marking its first earnings declaration since going public last month. The previous year's comparable quarter reflected a net profit of Rs 451 crore.

The housing finance giant's total income surged to Rs 2,410 crore, up from Rs 1,912 crore a year prior. A significant boost in interest income to Rs 2,227 crore from Rs 1,782 crore was recorded, reflecting strong financial growth.

However, the company's asset quality slightly deteriorated, with gross non-performing assets increasing to 0.29% from 0.24% year-on-year. The capital adequacy ratio stood at a healthy 28.98% as of September 30, 2024, following its IPO that offered over 93 crore equity shares at Rs 70 each.

(With inputs from agencies.)