Bajaj Finance spurts after strong Q4 outcome

Bajaj Finance rose 7.11% to Rs 2,055 at 14:58 IST on BSE after net profit rose 61% to Rs 721 crore on 33% increase in total income to Rs 3557 crore in Q4 March 2018 over Q4 March 2017.

The result was announced durign trading hours today, 17 March 2018.

Meanwhile, the S&P BSE Sensex was down 114.75 points, or 0.32% to 35,273.13.

On the BSE, 2.29 lakh shares were traded in the counter so far compared with average daily volumes of 41,000 shares in the past two weeks. The stock had hit a high of Rs 2064.80 so far during the day, which is also record high for the counter. The stock had hit a low of Rs 1906.55 so far during the day. The stock hit a 52-week low of Rs 1,190.40 on 23 May 2017.

Bajaj Finance's net interest income (NII) rose 40% to Rs 2365 crore in Q4 March 2018 over Q4 March 2017.

New loans booked during Q4 March 2018 increased by 51% to 3.78 million from 2.50 million in Q4 March 2017. Loan losses and provisions for Q4 March 2018 were Rs 274 crore as against Rs 287 crore in Q4 March 2017.

Gross non-performing assets (NPA) and net NPA as of 31 March 2018 stood at 1.48% and 0.38% respectively. The provisioning coverage ratio stood at 75% as of 31 March 2018. The company continues to provide for loan losses in excess of Reserve Bank of India requirements.

Bajaj Finance is a diversified non-banking financial company (NBFC).

Powered by Capital Market - Live News