NBFC giant Bajaj Finance garnered the highest-ever consolidated quarterly profit of ₹2,973 crore in the third quarter of FY23, rising by 40% year-on-year. Also, new loans booked and net additions to customer franchise were at record levels in Q3. The company’s asset quality is pristine. Post Q3, brokerage Prabhudas Lilladher has maintained its buy rating on Bajaj Finance stock, however, reduced the target price. Intense competition in consumer finance and mortgage business, while the NBFC’s plan to enter the microfinance business are key factors to look into.
Article Source:Money Control