Bajaj Finance has announced the results for the quarter ended September 2024 on 22 October. According to the exchange filing, the net profit of the company has increased by 13%. With this increase, the net profit has increased to Rs 4,000 crore. In the same period a year ago, the company had recorded a net profit of Rs 3,551 crore. Talking about the trading session on October 22, the stock of NBFC fell by 2% and the stock settled at Rs 6,645.75.

Bajaj Finance said in a stock exchange filing that consolidated assets under management grew 29% to Rs 3.73 lakh crore as of September 30, 2024, compared to Rs 2.9 lakh crore in the same period a year ago. Bajaj Finance said AUM increased by Rs 19,732 crore in Q2FY25. What did the company say? Bajaj Finance said in a statement, "Net interest income grew by 23% to Rs 8,838 crore in Q2 FY 2025 from Rs 7,196 crore in Q2 FY 2024. Net income grew by 24% to Rs 10,946 crore in Q2 FY 2025 from Rs 8,847 crore in Q2 FY 2024. The customer franchise as on September 30, 2024 was 92.09 million as against 76.56 million as on September 2023, i.e. an increase of 20%. The customer franchise increased by 3.98 million in Q2 FY 2025."

Increase in NPA
Gross NPA and net NPA stood at 1.06% and 0.46% respectively as on September 30, 2024, as against 0.91% and 0.31% as on September 30, 2023. It said that loan losses and provisions stood at Rs 1,909 crore in Q2 FY25 as against Rs 1,077 crore in Q2 FY24. Bajaj Finance's new loans booked grew 14% to 9.69 million in Q2 FY25 as against 8.53 million in Q2 FY24.

CIGNITI TECH Q2
CIGNITI TECH, the world's leading AI and IP-based digital assurance and engineering services company, has also announced its quarterly results. Giving information, the company said that in the second quarter of the current financial year, its profit has increased from Rs 10.5 crore to Rs 52.9 crore on a quarter-on-quarter basis. Talking about earnings, it has increased from Rs 468.5 crore to Rs 499.2 crore. The company's EBITDA has increased from Rs 41.8 crore to Rs 55.5 crore. EBITDA margin increased from 8.9% to 11.1%.