Bajaj Finance share price rallied nearly 8% to hit a high of ₹7,916.70 apiece on

the BSE after the company reported strong business update for the quarter ended June 2023

with robust volume and loan growth and healthy new customer acquisition.

The NBFC’s loan book grew 34% to 9.9 MM in the April-June quarter of the current fiscal from 7.2 MM in the corresponding period last year

The company’s customer franchise jumped to 72.98 MM as of June 30, 2023, compared to 60.30 MM in the year-ago period.

Bajaj Finance recorded its highest ever quarterly increase in its customer franchise of 3.84 MM in Q1FY24.

Assets under management (AUM) grew by 32% to approximately ₹270,050 crore in Q1FY24 from ₹204,018 crore in Q1FY23

The company recorded the highest ever quarterly increase in its AUM of approximately ₹22,700 crore in Q1FY24.

The company’s consolidated net liquidity surplus stood at approximately ₹12,700 crore as of June 30, 2023

In addition, deposit book rose to ₹49,900 crore from ₹34,102 crore in the year-ago period, registering an annual growth of 46%.