Bajaj Finance at record high after Q4 numbers
Shares of Bajaj Finance gained 1.5% after the company’s net profit was reported higher due to superior asset quality performance, which led to lower provisions.
The company’s standalone revenue improved by 33.2% yoy to Rs3,557cr.
Its NII came at Rs2,365cr as against Rs1,686cr, which has improved by 40.3% yoy.
The company’s net profit came above estimates at Rs720.9cr against Rs449cr, up 60.5% yoy. Its GNPA declined by 19bps qoq to 1.48% and NNPA has declined by 15bps qoq to 0.38% respectively.
Segment wise AUM break-up for FY18, Consumer Business – 46.6%, SME Business – 31.4%, Commercial Business – 14.7% and Rural Business – 7.3%.
The stock is currently trading at Rs2,107.30 up by Rs40.05 or 1.94% from its previous closing of Rs2,067.25 on the BSE.
The scrip opened at Rs2,078.80 and has touched a high and low of Rs2,136.70 and Rs2,067.70 respectively.