Bajaj Finance slips after Q2 results

Bajaj Finance fell 1.34% to Rs 4,082.75 after consolidated net profit jumped 63.11% to Rs 1,506.29 crore on 47.95% surge in total income to Rs 6,322.55 crore in Q2 September 2019 over Q2 September 2019.

The result was announced during the trading hours today, 22 October 2019.

The company's consolidated Asset Under Management (AUM) soared 38% to Rs 1,35,533 crore in Q2 September 2019 compared with Rs 98,013 crore in Q2 September 2018. Consolidated AUM mix of consumer: Rural: SME: Commercial: Mortgages stood at 39%: 8%: 13%: 10%: 30% as of 30 September 2019.

Net Interest Income (NII) grew 48% to Rs 3,999 crore in Q2 September 2019 as against Rs 2,708 crore in Q2 September 2018.

New loans booked increased 23% to 6.47 million in Q2 September 2019 compared with 5.26 million in Q2 September 2018. Customer franchise as of 30 September 2019 increased by 29% to 38.70 million from 30.05 million as of 30 September 2018.

Consolidated gross and net NPA as of 30 September 2019 stood at 1.61% and 0.65%, respectively. Provisioning coverage ratio of 59.9% as of 30 September 2019.

Meanwhile, the S&P BSE Sensex was down 223 points or 0.57% to 39,075.29.

On the BSE, 1.20 lakh shares were traded in the counter so far compared with average daily volumes of 75,109 shares in the past two weeks. The stock hit an intraday high of Rs 4,219.50, which is also an all-time record high for the counter. The stock hit an intraday low of Rs 4,050.90. The stock hit a 52-week low of Rs 2,000.80 on 23 October 2018.

Bajaj Finance is engaged in lending and allied activities. It focuses on consumer lending, small and medium-sized enterprises (SME) lending, commercial lending, rural lending, fixed deposits and value-added services.

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