Bajaj Finance hits record high on strong Q1 earnings

Net NPA for Q1FY13 stood at 0.10%, its lowest level in the last five years, against 0.46% in Q1FY12.

Bajaj Finance has moved higher by 5% at Rs 1,010, its record high market price, on reporting an healthy 53% year-on-year (yoy) growth in net profit at Rs 139 crore for Q1 of current fiscal, on back of strong growth in operational income. Net interest income grew 41% at Rs 439 crore on yoy basis.

“Net non-performing assets (NPA) has declined to 0.10% in Q1FY13, its lowest level in the last five years, against 0.46% in Q1FY12,” Bajaj Finance said in a filing.

A combined 71,758 shares have already changed hands on the counter in noon trades, against an average sub 25,000 shares that were traded daily in past two weeks on both the exchanges.