25 Apr 2023 , 09:55 AM
Result date: 26th April, 2023
Recommendation: Add
Target price: Rs 6,550
(Source: IIFL Research)
Bajaj Finance is expected to post ~29% growth in its Net Interest Income (NII) as compared to the year-ago quarter. This will be on the back of healthy credit demand across its key segments.
The company could witness some margin pressure due to rising cost of funds, even as cost to income ratio is likely to be in a tight band of 34-35%.
Bajaj Finance’s asset quality is likely to be stable with an upward bias amid improving collections. Credit costs could remain flat on a sequential basis.
Profit After Tax or PAT could grow by 28% over the year-ago quarter.
Important management insights to watch out for:
Rs Crore |
March 2023 estimates |
YoY change |
QoQ change |
Net Interest Income (NII) |
6,574 |
28.7% |
4.4% |
Operating Profit |
5,099 |
28.5% |
5.1% |
Profit After Tax |
3,103 |
28.1% |
4.5% |
Source: Brokerage estimates
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