Bajaj Finance surges to record after robust Q3 outcome

Bajaj Finance jumped 7.78% to Rs 3,751.85 at 14:05 IST on BSE after net profit surged 33.08% to Rs 258.38 crore on 37.34% increase in total income to Rs 1485.39 crore in Q3 December 2014 over Q3 December 2013.

The result was announced during trading hours today, 14 January 2015.

Meanwhile, the BSE Sensex was down 145.95 points, or 0.53%, to 27,279.78

On BSE, so far 34,789 shares were traded in the counter, compared with an average volume of 3,765 shares in the past one quarter.

The stock hit a record high of Rs 3,890 in intraday trade today, 14 January 2015. The stock hit a low of Rs 3,483 so far during the day. The stock hit a 52-week low of Rs 1,460 on 11 February 2014.

The stock had outperformed the market over the past one month till 13 January 2015, rising 5.44% compared with 0.27% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 29.74% as against Sensex's 3.95% rise.

The large-cap company has an equity capital of Rs 50.15 crore. Face value per share is Rs 10.

Bajaj Finance's assets under management (AUM) rose 37% to Rs 30822 crore in Q3 December 2014 over Q3 December 2013. The company's customers base increased 59% to 15.31 lakh in Q3 December 2014 over Q3 December 2013. Net interest income rose 33% to 893 crore in Q3 December 2014 over Q3 December 2013.

Gross non-performing assets (NPA) and net NPA as of 31 December 2014 stood at 1.5% and 0.49% respectively. The provisioning coverage ratio stood at 68%. The company continues to provide for loan losses in excess of RBI requirements, Bajaj Finance said. Loan losses and provisions rose 37% to Rs 108 crore in Q3 December 2014 over Q3 December 2013.

Capital adequacy ratio (including Tier-II capital) stood at 18.69%. The Tier-I capital stood at 14.72%. The company said it continues to be well capitalised to support its growth trajectory.

Bajaj Finance is a diversified non-banking financial company.

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