Bajaj Housing Finance shares drop 4% ahead of Q3 results; check details

Bajaj Housing Finance shares slipped 3.9 per cent in trade on Monday, logging an intraday low at Rs 104.8 per share. The selling pressure in the stock was ahead of the company announcing its Q3 results. The stock is currently trading over 51 per cent higher from its issue price of Rs 70 per share and 29 per cent below its listing price of Rs 150.

 

Around 11:46 AM, Bajaj Housing Finance shares were down 2.98 per cent at Rs 105.9 per share on BSE. In comparison, the BSE Sensex was down 0.94 per cent at 75,477.11. The market capitalisation of the company stood at Rs 88,195.07 crore. The 52-week high of the stock was at Rs 188.45 per share and the 52-week low was at Rs 104.8 per share. 

 

Bajaj Housing Finance announced to release its third quarter (Q3) results on Janaury 27, 2025, through a filing on January 4, 2025. 

 

"Notice is hereby given that a meeting of the Board of Directors of the Company will be held on Monday, 27 January 2025, inter alia, to consider and approve the unaudited standalone financial results of the company for the quarter and nine months ended 31 December 2024," the filing read. 

Bajaj Housing Finance Q2 results 

Bajaj Housing Finance reported a surge of 21 per cent year-on-year (Y-o-Y) in its net profit to Rs 546 crore in Q2FY25 from Rs 451 crore in Q2FY24, aided by healthy growth in total income.

 

This is the first quarterly earnings report after equity capital market listing in September, 2024. The total income of the company rose 18 per cent Y-o-Y to Rs 897 crore. The net interest income (NII) increased by 13 per cent to Rs 713 crore. The net interest margin (NIM) dropped to 4.1 per cent in the quarter under review from 4.4 per cent.

 

The expenses of the company increased by 10 per cent to Rs 184 crore.

Provisions of the company dropped by 72 per cent Y-o-Y to Rs 5 crore from Rs 18 crore in the last year. The cost of funds of the company rose to 7.92 per cent from 7.64 per cent in Q2FY24. 

 

Bajaj Housing Finance shares made a bumper debut on the stock exchanges today, riding high on the positive market sentiment. Bajaj Housing shares listed at Rs 150 on the BSE, and the National Stock Exchange (NSE), surging 114.28 per cent above the IPO issue price of Rs 70 on September 16, 2024.