Mumbai, Jan 29 (IANS): Bajaj Finance Limited on Wednesday reported a 18 per cent year-on-year (YoY) rise in its consolidated net profit for the third quarter (Q3) of FY25 at Rs 4,308 crore.

The company's net interest income (NII) also saw a significant rise of 23 per cent YoY at Rs 9,382 crore compared to Rs 7,655 crore in the same quarter last year.

The assets under management (AUM) surged by 28 per cent to Rs 3.98 lakh crore as of December 31, 2024, up from Rs 3.11 lakh crore a year ago.

The company's asset quality weakened slightly as gross non-performing assets (GNPA) rose to 1.12 per cent from 0.95 per cent a year earlier.

Similarly, net non-performing assets (NNPA) increased to 0.48 per cent from 0.37 per cent.

The provisioning coverage ratio on stage 3 assets stood at 57 per cent.

Loan loss provisions saw a sharp rise at Rs 2,043 crore in Q3 FY25, compared to Rs 1,248 crore in the same period last year.

As a percentage of average assets under finance, loan losses and provisions stood at 2.16 per cent.

The capital adequacy ratio (CRAR), including Tier-II capital, stood at 21.57 per cent, with Tier-I capital at 20.79 per cent as of the end of Q3 FY25.

Bajaj Finance shares gained 2 per cent and closed at Rs 7,760 per piece on the NSE.

The company's housing finance arm Bajaj Housing Finance’s profit after tax rose by 25 per cent to Rs 548 crore, compared to Rs 437 crore in the same period last year.

Its AUM grew by 26 per cent to Rs 1.08 lakh crore from Rs 85,929 crore a year ago.

The company's net interest income (NII) increased by 25 per cent YoY to Rs 806 crore in Q3 FY25.

Meanwhile, the company’s asset quality remained stable, with GNPA at 0.29 per cent and NNPA at 0.13 per cent as of December 31, 2024.

Bajaj Housing Finance maintained a provisioning coverage ratio of 55 per cent on stage 3 assets, while its CRAR stood at a healthy 27.86 per cent.