INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of financial services companies Bajaj Finance and Bajaj Finserv shot up to record highs on Friday, driven by their solid
June quarter numbers.
At 02:16 pm, the stock of Bajaj Finance hit Rs 2,730 on the BSE, up 8.44 per cent
Bajaj Finserv was up 6.41 per cent at Rs 6,710.95
Bajaj Finance on Thursday reported an 81.40 per cent YoY jump in consolidated net profit at Rs 835.89 crore for April-June
The corresponding number read Rs 460.91 crore in the previous year
Revenue spurted to Rs 3,936.45 crore during the quarter under review, from Rs 2,832.85 crore a year earlier.
Asset under management (AUM)
looked good as it swelled 35 per cent YoY to Rs 93,314 crore
Gross non-performing assets (GNPAs) and net NPAs came in at 1.39 per cent and 0.44 per cent, respectively, for the said quarter.
Bajaj
Finserv posted a 41.27 per cent annual jump in consolidated net profit at Rs 825.77 crore for the three months to June.
The company came out
with its Q1 numbers on Thursday
Consolidated total income increased 16.40 per cent YoY to Rs 8,771 crore in Q1 of FY19, from Rs 7,535.56 crore in Q1 of FY18.
