17-Oct-2023
2 mins read
Large-cap NBFC Bajaj Finance and Mid-cap IT company L&T Technology Services declared their second-quarter earnings post-market hours yesterday. The company has declared a good set of numbers with the following details:
Bajaj Finance Reported a 33% YoY Growth in Assets Under Management.
- In its quarterly business update, the non-banking finance company Bajaj Finance said its assets under management (AUM) grew by 33% to approximately Rs 2,90,200 crore as of September 30, 2023, as compared to Rs 2,18,366 crore as of September 30, 2022.
- New loans booked during Q2FY24 grew by 26% to Rs 85.3 lakh, compared to Rs 67.6 lakh in Q2FY23.
- Bajaj Finance’s omnipresence strategy started bearing fruits as it maintained the pace of high new customer acquisitions. Growth in the customer base was strong at 22% YoY.
- The company said its deposit book stood at approximately Rs 54,800 crore as of September 30, compared to Rs 39,422 crore as of September 30, 2022, registering a YoY growth of 39%.
- Bajaj Finance’s scrip settled at Rs 8091.35 on the BSE, up 0.73% against the previous day’s close.
L&T Tech’s Revenue is up 3.7%, and Net profit is up 1.3% QoQ.
- L&T Technology Services Limited, the technology arm of Larsen & Toubro company, reported a consolidated net profit of Rs 316 crore, up by 1.3% from Rs 312 crore in Q1 FY24.
- The company’s consolidated revenue was reported at Rs 2,378 crore for Q2 FY24, showing a 3.7% QoQ growth from Rs 2,301 crore in Q1 FY24.
- The EBITDA for Q2FY24 was Rs 414 crore, up 3.4% from Rs 401 crore in Q1FY24, with a flat sequential margin of 17.4%.
- The company’s board has declared an interim dividend of Rs 17 per equity share and fixed October 27 as the record date for the dividend payout.
- L&T Tech’s scrip settled at Rs 4,623 on the BSE, down 1.41% against the previous day’s close.