 "Bajaj Finance hits lifetime high on strong Q3 results")
Bajaj Finance has soared 10% to Rs 3,821 on BSE after reporting a strong 33% year-on-year (yoy) jump in net profit at Rs 258 crore in October-December 2014 quarter (Q3), on back of strong operational income. The company had profit of Rs 194 crore in the same quarter last fiscal.
Analyst on an average had expected net profit of Rs 239 crore for the quarter.
Net interest income or NII grew 33% at Rs 893 crore against Rs 672 crore in the corresponding quarter of previous year, Bajaj Finance said in a statement.
Gross non-performing assets (NPA) and net NPA as of December 31, 2014 stood at 1.50% and 0.49% respectively, it added.
The stock opened at Rs 3,500 and touched a lifetime high of Rs 3,890 on BSE. Till 1400 hours, a combined 185,964 shares changed hands against an average sub 50,000 shares that were traded daily in past two weeks on BSE and NSE.
Analyst on an average had expected net profit of Rs 239 crore for the quarter.
Net interest income or NII grew 33% at Rs 893 crore against Rs 672 crore in the corresponding quarter of previous year, Bajaj Finance said in a statement.
Gross non-performing assets (NPA) and net NPA as of December 31, 2014 stood at 1.50% and 0.49% respectively, it added.
The stock opened at Rs 3,500 and touched a lifetime high of Rs 3,890 on BSE. Till 1400 hours, a combined 185,964 shares changed hands against an average sub 50,000 shares that were traded daily in past two weeks on BSE and NSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%