Net interest income, however, rose 20.6% year-on-year to ₹11,318 crore, broadly in line with estimates, driven by sustained expansion in the loan book.
During the quarter, the company strengthened its provisioning framework by introducing a minimum loss-given-default (LGD) floor across businesses, resulting in an accelerated expected credit loss provision of ₹1,406 crore.
It also booked a one-time exceptional charge of ₹265 crore towards higher gratuity liabilities following the implementation of new labour codes.Loan growth remained healthy, with 1.39 crore new loans booked in Q3, up 15% year-on-year. The customer franchise expanded 19% YoY to 11.54 crore, with 47.6 lakh customers added during the quarter. Assets under management stood at ₹4.84 lakh crore as of December 31, growing 22% YoY before the accelerated ECL adjustment.
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Asset quality remained stable, with gross NPAs at 1.21% and net NPAs at 0.47%. The capital adequacy ratio stood at a comfortable 21.45%, with Tier-I capital at 20.60%.
Shares of Bajaj Finance had closed 6.68% higher at ₹964.75 on the NSE ahead of the earnings announcement.
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