The non-banking financial company’s (NBFC) net interest income (NII) or core income increased by 22% from last year to ₹10,227 crore. A CNBC-TV18 poll had projected the figure at ₹10,226 crore.
Net profit for the period also increased by 20.1% from last year to ₹4,700 crore.
Asset quality for the NBFC remained under minor pressure. Gross NPA for the quarter stood at 1.03% from 0.86% in March, while Net NPA stood at 0.5% from 0.38% in March.
The lender’s capital adequacy ratio (CRAR) (including Tier-II capital) as of June 30 stood at 21.96%.
Assets under management (AUM) witnessed growth of 25%.
Bajaj Finance new MD and CEO, Anup Saha, recently stepped down from his position citing personal reasons.
Saha was Managing Director of Bajaj Finance for just under four months. He had joined the company in 2017 and was named Managing Director with effect from April 1, 2025.
Rajeev Jain, the erstwhile Vice Chairman & Managing Director, who as promoted to executive Vice Chairman earlier this year at the completion of his term, will return to his position as VC & MD, till his term ends on March 31, 2028.
The presence of Rajeev Jain, and the seasoned top management can make the transition smooth, but succession will remain a medium-term deliverable, according to brokerage firm Jefferies’ note.
“This will be Rajeev Jain’s fourth term at the helm, and while the norms around banks, which limits tenure for non-promoter CEOs to 15 years, does not apply to banks, the group may look at finding suitable options,” the note added.
Jefferies has a “buy” recommendation on Bajaj Finance, with a price target of ₹1,044 and ranks among its top NBCFC pick.
Morgan Stanley too retained its “overweight” recommendation on Bajaj Finance with a price target of ₹1,050. The brokerage said that while this appears a setback to Rajeev Jain’s succession plans, the situation is manageable.
Shares of Bajaj Finance ended 1.22% lower on Thursday, ahead of the earnings announcement, at ₹956.50. The stock has risen nearly 40% so far in 2025.
