Bajaj Finance inches up after strong Q1 numbers

Bajaj Finance rose 0.22% to Rs 2189.35 at 14:22 IST on BSE after net profit surged 20% to Rs 211 crore on 34% growth in total income to Rs 1246 crore in Q1 June 2014 over Q1 June 2013.

The Q1 result was announced during market hours today, 16 July 2014.

Meanwhile, the S&P BSE Sensex was up 107.98 points or 0.43% at 25,336.63.

On BSE, so far 4,033 shares were traded in the counter as against average daily volume of 6,510 shares in the past one quarter.

The stock was volatile. The stock rose as much as 2.07% at the day's high of Rs 2,230 so far during the day. The stock lost as much as 0.44% at the day's low of Rs 2,175 so far during the day. The stock had hit a record high of Rs 2,370 on 7 July 2014. The stock had hit a 52-week low of Rs 965.50 on 29 August 2013.

The stock had outperformed the market over the past one month till 15 July 2014, surging 7.64% compared with the Sensex being flat in the same period. The scrip had also outperformed the market in past one quarter, advancing 23.91% as against Sensex's 12.20% rise.

The large-cap company has equity capital of Rs 50.14 crore. Face value per share is Rs 10.

Bajaj Finance's deployments rose 48% to Rs 9266 crore in Q1 June 2014 over Q1 June 2013.

Loan losses and provisions rose 30% to Rs 83 crore in Q1 June 2014 over Q1 June 2013.

Gross non-performing assets (NPA) ratio and net NPA ratio stood at 1.13% and 0.27% respectively as on 30 June 2014. The provisioning coverage ratio stood at 76% as on 30 June 2014. The company continues to provide for loan losses in excess of RBI requirements, Bajaj Finance said in a statement.

Bajaj Finance offers secured and unsecured loan. The company provides two-and-three wheeler loan, consumer durable loan, personal loans, loan against property, small business loans, construction equipment loan and loan against securities.

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