Bajaj Housing Finance Q2 results: Net profit soars 21% to ₹546 crore; here are five key takeaways

Bajaj Housing Finance, on Monday, announced a 21% increase in its net profit for the quarter ending September 2024, reaching ₹546 crore, compared to ₹451 crore in the same quarter last year. This marks the company's first earnings report since its recent IPO.

Bajaj Housing Finance's stock performance following its IPO in September 2024 propelled the company's market capitalization to approximately ₹1.4 lakh crore. The stock experienced a remarkable 136 per cent increase on its debut, effectively doubling investors' capital, and continued its upward trajectory post-listing.

Bajaj Housing Finance's share price declined by nearly 2 per cent on October 21, closing at ₹136.8 on the NSE, just before the announcement of its financial results. The stock has retraced its gains since listing and has fallen from its peak of ₹188.5, with a current market capitalization of ₹1.14 lakh crore.

Here are five key takeaways from Bajaj Housing Finance Q2 results -

Net profit

The NBFC posted a 21 per cent jump in its profit after tax (PAT) to ₹546 crore, compared to ₹451 crore in the same quarter last year. Meanwhile, profit before tax for Q2 FY25 increased by 23 per cent to ₹708 crore from ₹575 crore in Q2 FY24.

Revenue

The revenue from operations for the reported quarter reached ₹2,410 crore, reflecting a 26 per cent increase compared to ₹1,911 crore recorded in the same quarter of the previous financial year.

NII

The company's net interest income (NII) for Q2 FY25 rose by 13 per cent, reaching ₹713 crore compared to ₹632 crore in Q2 FY24. Net total income for Q2 FY25 increased by 18% to ₹897 crore from ₹761 crore in Q2 FY24.

AUM

Assets under management (AUM) increased by 26 per cent to ₹1,02,569 crore as of September 30, 2024, up from ₹81,215 crore on September 30, 2023.

NPA

Gross NPA and Net NPA as of 30 September 2024 stood at 0.29 per cent and 0.12 per cent respectively, as against 0.24 per cent and 0.09 per cent as of 30 September.