Bajaj Finance gains after announcing stellar Q1 results

Bajaj Finance rose 0.96% to Rs 5,150 at 12:45 IST on BSE after net profit rose 30.4% to Rs 275.63 crore on 32.89% rise in total income to Rs 1655.84 crore in Q1 June 2015 over Q1 June 2014.

The result was announced during market hours today, 22 July 2015.

Meanwhile, the BSE Sensex was up 259.20 points, or 0.92%, to 28,441.34.

On BSE, so far 6,748 shares were traded in the counter, compared with an average volume of 3,943 shares in the past one quarter.

Shares of non banking financial company hit a high of Rs 5,203.65 and a low of Rs 5,090.65 so far during the day. The stock had hit a record high of Rs 5,652.20 on 7 July 2015. The stock had hit a 52-week low of Rs 2,151 on 8 August 2014.

Bajaj Finance said customers acquired rose 37% to 17.19 lakhs in Q1 June 2015 over Q1 June 2014. Loan losses and provisions rose 24% to Rs 103 crore in Q1 June 2015 over Q1 June 2014. The company continued to strengthen its provisioning policy. The provisioning coverage ratio stood at 68% as of 30 June 2015. Gross non performing assets (NPA) and Net NPA stood at 1.69% and 0.55% respectively as of 30 June 2015.

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