Synopsis
In the past year, Bajaj Finance is down almost 6% as against Nifty’s 6% gains. The stock has gained 9% in the past month. Though the latest results are encouraging, analysts feel the AUM must grow at a higher rate to enjoy the current high valuations. However, the launch of Jio Financial Services is also a cause for concern.
Non-banking financial company, Bajaj Finance, has posted a consolidated net profit of INR3,158 crore for the quarter ended March 2023 — 30% higher compared to INR2,420 crore in the corresponding quarter of last year. The company has added 11.57 million new customers in FY23 — its highest ever — and aims to add another 11 million-12 million in the current financial year. Bajaj Finance has reported an asset under management (AUM) growth of 25% YoY
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