Bajaj Finance rose 0.42% to Rs 2466.45 at 14:51 IST on BSE after consolidated net profit rose 54% to Rs 1060 crore on 48% increase in total income to Rs 4995 crore in Q3 December 2018 over Q3 December 2017.
The result was announced during trading hours today, 29 January 2019.Meanwhile, the S&P BSE Sensex was down 184.63 points, or 0.52% to 35,472.07.
On the BSE, 6.02 lakh shares were traded in the counter so far compared with average daily volumes of 81,000 shares in the past two weeks. The stock had hit a high of Rs 2524.95 and a low of Rs 2380 so far during the day. The stock hit a 52-week high of Rs 2,995.10 on 30 August 2018. The stock hit a 52-week low of Rs 1,514.40 on 6 February 2018.
On a consolidated basis, Net Interest Income (NII) rose 46% to Rs 3,209 crore in Q3 December 2018 over Q3 December 2017.
New loans booked during Q3 December 2018 increased by 49% to 6.77 million from 4.54 million in Q3 December 2017.
Customer franchise as of 31 December 2018 increased by 31% to 32.57 million from 24.81 million as of 31 December 2017.
Assets under Management (AUM) as of 31 December 2018 grew by 41% to Rs 1,09,930 crore from Rs 78,033 crore as of 31 December 2017.
Despite tough liquidity environment the company has added receivables of Rs 9,867 crore in Q3 December 2018 - highest ever quarterly increase in loan receivables.
Loan losses and provisions for Q3 December 2018 were Rs 454 crore as against Rs 278 crore in Q3 December 2017.
Gross Non-performing asset (NPA) and Net NPA, recognized as per extant RBI prudential norms and provisioned as per Expected Credit Loss (ECL) method prescribed in lnd AS, as of 31 December 2018 stood at 1.55% and 0.62% respectively. The provisioning coverage ratio stood at 60%. Standard assets provisioning was 88 bps as per ECL (stage 1 & 2) provisioning under lnd AS versus 40 bps as per RBI prudential norms.
Bajaj Finance is one of the largest players in the consumer finance segment in India. Apart from consumer finance, the company also has substantial business penetration in SME, commercial and rural lending.
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