Bajaj Finance Limited, a leading deposit-taking non-banking financial company (NBFC-D) in India, has announced its financial results for the last quarter of FY24. The company recorded 23.7% YoY growth in revenue in Q4, along with a strong growth in profits.
The growth came on the back of a 36% growth in new loans from 0.787 crore in Q4 FY24 to 1.01 crore in Q4 FY25. Additionally, the company’s customer franchise crossed a milestone of 10 crore and stood at 10.18 crore as of FY25. The company also announced a dividend of ₹56 per share (interim and final), a stock split, and a bonus issue of shares.
Key highlights:
- Bajaj Finance reported 23.7% YoY growth in Q4 FY25 revenue to ₹18,469 crore.
- Net profit of the company rose 18.9% YoY to ₹4,546 crore in Q4 FY25.
- Assets under management (AUM) grew 26% YoY to ₹4.16 lakh crore.
- Gold loans AUM jumped 81%, car loans 68%, and urban B2C loans 33% in FY25.
- Announced interim dividend of ₹12 per share and final dividend of ₹44 per share.
- FY26 guidance: AUM growth 25–27%, profit growth 23–24%, RoE 19–21%.
Bajaj Finance revenue surges 24% in Q4
The NBFC recorded 23.6% growth in operating revenue to ₹18,457 crore in Q4 as compared to ₹14,927 crore booked in Q4 of the previous fiscal year. Its total revenue (including non-operating income) also increased 23.7% to ₹18,469 crore during the same period.
Net interest income (NII), which refers to the difference between the interest income generated from lending activities and the interest paid on deposits or borrowings, also went up significantly (22.4%) to ₹9,807 crore during the quarter from ₹8,013 crore in the same quarter of the previous year.
Profits of the company also grew 18.9% to ₹4,546 crore in Q4 in contrast to ₹3,825 crore generated a year ago.
| Financials | Q4 FY25 (₹ Cr) | Q4 FY24 (₹ Cr) | YoY Change |
| Operating revenue | 18,457 | 14,927 | 23.6% |
| Total revenue | 18,469 | 14,932 | 23.7% |
| Net interest income | 9,807 | 8,013 | 22.4% |
| PAT | 4,546 | 3,825 | 18.9% |
Source: Company filings
Finance cost for the company increased 25.6% YoY to ₹6,552 crore and contributed 51.1% to the total expenditure during Q4. Spending on employee benefits went up 17.8% to ₹1,943 crore, while the total expenditure of the company went up 30.5% to ₹12,830 crore in Q4.
On a yearly basis, Bajaj Finance reported 26.8% growth in revenue to ₹69,725 crore in FY25 in contrast to ₹54,983 crore in the previous financial year (FY24).
Net Interest Income surged 23% to ₹36,393 crore for the year ended March 2025 from ₹29,582 crore generated in FY24. Meanwhile, profit after tax went up 16.1% to ₹16,779 crore during the year against ₹14,451 crore booked in FY24.
| Financials | FY25 (₹ Cr) | FY24 (₹ Cr) | YoY Change |
| Operating revenue | 69,684 | 54,974 | 26.8% |
| Total revenue | 69,725 | 54,983 | 26.8% |
| Net interest income | 36,393 | 29,582 | 23.0% |
| PAT | 16,779 | 14,451 | 16.1% |
Source: Company filings
How does Bajaj Finance make money?
Based in Pune, Bajaj Finance provides a wide range of financial products and services, including personal loans, home loans, vehicle financing, SME loans, and wealth management, serving both individuals and businesses.
During the quarter, it made ₹16,359.1 crore revenue from interest on loans, contributing 88.63% to the total operating revenue. The revenue from this vertical went up 23.7% YoY during the quarter. Fees and commission income for the company grew 14.9% to ₹1,521.7 crore during the quarter and formed 8.24% of the revenue.
| Segment Revenue | Q4 FY25 (₹ Cr) | Q4 FY24 (₹ Cr) | YoY Change |
| Interest income | 16,359.1 | 13,230.1 | 23.7% |
| Fees and commission income | 1,521.7 | 1,324.4 | 14.9% |
| Net gain on fair value changes | 122.7 | 78.4 | 56.5% |
| Income from services & de-recognised loans | 142.6 | 9.0 | 1484.4% |
| Other operating income | 310.8 | 285.3 | 8.9% |
| Operating revenue | 18,457 | 14,927 | 23.6% |
Source: Company filings
Bajaj Finance: Bonus issue, stock split, and dividend
Following the announcement of quarterly results, Bajaj Finance also made the following announcements related to bonus issue, stock split, and dividend:
- The company has announced an interim dividend of ₹12 per share with a record date of May 9, 2025.
- It also declared a final dividend of ₹44 per share for FY25, having a record date of May 30, 2025.
- A stock split of 1:2, which will split 1 equity share of a face value of ₹2 into 2 shares of a face value of ₹1.
- A bonus issue in the ratio of 4:1, following this, the shareholders will receive 4 additional shares of the company.
AUM growth of Bajaj Finance in FY25
As of March 2025, Bajaj has ₹4,16,661 crore assets under management (AUM), which grew 26% during the year as compared to ₹3,30,615 crore in FY24. Coming to the breakup of the AUM, the company has ₹1,29,461 crore under mortgage loans, which saw 25% growth during the year. This segment contributed 31% to the total AUM of the company.
In terms of YoY growth, gold loans AUM grew 81% to ₹8,307 crore in FY25, car loans jumped 68% to ₹11,876 crore, while the urban B2C loans segment saw 33% growth during the same period.
| AUM | FY25 (₹ Cr) | FY24 (₹ Cr) | Growth |
| Gold Loans | 8,307 | 4,599 | 81% |
| Car Loans | 11,876 | 7,087 | 68% |
| Urban B2C Loans | 87,696 | 66,093 | 33% |
| SME Lending | 50,345 | 38,470 | 31% |
| Rural Sales Finance | 7,944 | 6,209 | 28% |
| Commercial Lending | 27,760 | 22,006 | 26% |
| Mortgages | 129,461 | 103,316 | 25% |
| Urban Sales Finance | 29,109 | 23,448 | 24% |
| Rural B2C Loans | 21,467 | 17,607 | 22% |
| Loan against securities | 25,377 | 22,038 | 15% |
| Two & Three-Wheeler Finance | 17,319 | 19,742 | -12% |
| Total AUM | 416,661 | 330,615 | 26% |
Source: Company filings
Business growth and future outlook
In Q4, Bajaj Finance added 0.47 crore customers to its franchise, while in FY25, it added 1.818 crore customers. In simple terms, the company has added 1 customer every 2 seconds in the last two financial years, as per our internal calculations.
The company is expecting 25%-27% growth in AUM, 23%-24% growth in profits, and a 19%-21% growth in return on equity. The guidance, however, has been reduced slightly as compared to the earlier projections for FY26. Following the announcement of Q4 results, Bajaj Finance’s share price slipped nearly 5% on April 30, 2025.
Bajaj is the largest player among its industry peers, which include Jio Financial, Cholamandalam Investment & Finance, and Shriram Finance.
Summary
Bajaj Finance continued its growth momentum as it managed to grow the revenue by 23.7% YoY to ₹18,469 crore and net profit by 18.9% to ₹4,546 crore in Q4 FY25. For the full financial year, revenue surged 26.8% to ₹69,725 crore while profit rose 16.1% to ₹16,779 crore. The strong growth came on the back of a 36% growth in new loans, a 22.4% rise in total AUM, and crossing a milestone of 100 million customer franchise. Moreover, the company also announced a ₹56 dividend per share, including a ₹12 per share interim dividend and a ₹44 per share final dividend. To improve the liquidity in the market and increase market participation, the company also intends to split its shares, along with issuing bonus shares to the existing shareholders.
Disclaimer
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. The securities are quoted as an example and not as a recommendation.This is nowhere to be considered as an advice, recommendation or solicitation of offer to buy or sell or subscribe for securities. INDStocks SIP / Mini Save is a SIP feature that enables Customer(s) to save a fixed amount on a daily basis to invest in Indian Stock. INDstocks Private Limited (formerly known as INDmoney Private Limited) 616, Level 6, Suncity Success Tower, Sector 65, Gurugram, 122005, SEBI Stock Broking Registration No: INZ000305337, Trading and Clearing Member of NSE (90267, M70042) and BSE, BSE StarMF (6779), SEBI Depository Participant Reg. No. IN-DP-690-2022, Depository Participant ID: CDSL 12095500, Research Analyst Registration No. INH000018948 BSE RA Enlistment No. 6428. Refer https://indstocks.com/pricing?type=indian-stocks; https://www.indstocks.com/page/indian-stocks-sip-terms-and-condition for further details.