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2h ago

Bajaj Finance Tumbles After Guidance Cut as Q2 Pairs Strong Growth With Rising NPAs

The selloff follows a trimmed FY26 AUM outlook with management signaling credit costs near the top of guidance before easing in FY27.

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Shares of Tata Power shed 0.09 per cent to close at Rs 395.60.
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Overview

  • Bajaj Finance reported consolidated net profit of about Rs 4,948 crore for Q2, up roughly 23% year on year, with net interest income rising 22%.
  • AUM grew around 24% to Rs 4,62,261 crore as of Sept. 30, driven by festive-season disbursals and continued operating momentum.
  • Asset quality weakened: gross NPA rose to 1.24% and net NPA to 0.60%, while loan losses and provisions increased 19% versus a year earlier.
  • Management cut FY26 AUM growth guidance to 22–23% and reduced unsecured MSME disbursals by about 25%, with MSME AUM growth now seen at 10–12% in FY26.
  • Shares fell 7–8% after results as the company flagged credit costs at the higher end of the 1.85–1.95% band for FY26; brokerages issued mixed views, with some downgrades and others recommending buying the dip.