Bajaj Finance shares zoom over 7% after Q1 results

Shares of Bajaj Finance on Friday zoomed over 7 per cent after the company reported its highest-ever quarterly consolidated net profit during the first quarter ended June 30.

The company's scrip rallied 7.20 per cent to close at Rs 3,265.85 on the BSE. During the day, it zoomed 7.65 per cent to Rs 3,279.65.

On the NSE, shares rose by 7.40 per cent to close at Rs 3,272.

On the traded volume front, 3.38 lakh shares were traded on the BSE and over 69 lakh units on the NSE during the day.

Bajaj Finance on Thursday reported its highest-ever quarterly consolidated net profit to Rs 1,195 crore during the first quarter ended June 30, up by 43 per cent from the year-ago period.

The company had posted a net profit of Rs 836 crore in the corresponding quarter of 2018-19.

Its total income (consolidated) rose 47 per cent to Rs 5,808 crore during the June quarter of 2019-20, against Rs 3,938 crore a year ago, Bajaj Finance Ltd (BFL) said in a release.

On a standalone basis, the net profit in the quarter increased 35 per cent to Rs 1,125 crore from Rs 834 crore in the year-ago quarter. Income jumped 40 per cent to Rs 5,305 crore as against Rs 3,792 crore.