Bajaj Finance Q2 Review - Strong Growth; Optimistic Outlook: Anand Rathi
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Anand Rathi Report
Bajaj Finance Ltd. had a strong Q2 FY22. Its assets under management grew 22% YoY whereas core AUM growth was ~Rs 111 billion (Rs 41 billion the previous quarter).
Asset quality improved and credit costs were lower.
The company is focusing on the merchant app (expected to go live in February 2022). At end-Q2 AUM had grown 22% YoY to Rs 1.67 trillion.
All business segments saw strong growth except business-to-business-auto finance, which slid 15% YoY. New loans booked were Rs 6.33 million, of which 68% came from existing customers.
Bajaj Finance acquired ~0.37 million EMI card customers. The customer franchise grew 20% YoY to 52.8 million in Q2 FY22.
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