“Consolidated Net Cash Excess as at 30 June 2022 was approximately £11.550 billion. The company’s cash position remains strong,” the press release emphasized.
As per the press release, the Company remains well capitalized with a capital adequacy ratio (CRAR) of approximately 26.2% as of June 30, 2022. It is a wholly owned subsidiary of the Company.
Bajaj Finance’s book of deposits at the end of the June quarter 2023 was ₹34,100 billion compared to 27,972 crore at 30 June 2021, an increase of 22% year-on-year.
Buoyed by the strong operational performance, Bajaj Finance shares opened higher at ₹5,673.10 from the previous close of ₹5,662.05. During the session so far, the index heavyweight is up 3.7% to hit an intraday high of £5,872 apiece. The stock is up nearly 9% over the past four days while down 2.5% over a month. The NBFC major is down more than 18% year-to-date while delivering a negative 5% return to its shareholders over the past year.
The stock hit a 52-week low of ₹5,235.60 on June 17, 2022, after hitting a 52-week high of ₹8,043.50 on January 19 of this year, a 35% decline over that period recorded.
For the fourth quarter ended March 2022, Bajaj Finance reported its highest ever consolidated net profit of £2,419.51 billion compared to £1,346.64 billion in the corresponding quarter last year, an increase of 79.7% compared to the previous year. Net interest income (NII) for the quarter increased 30% to ₹6,068 billion compared to ₹4,659 billion in the same period last year. The company also announced a dividend of £20 per share.
