Bajaj Finance Q1FY18 standalone net profit rises 42% yoy to Rs.602.04 crore : Beats Estimates

India Infoline Research Team | July 19, 2017 13:30 IST

Bajaj Finance Ltd Q1FY18

Standalone Results Q1FY18: (Rs. in crore)

Q1FY18 YoY (%)
NII 2,072.50 48.4
Net Profit (adjusted) 602.04 42.0



Reco. Price


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Bajaj Finance Ltd Q1FY18 results registered a beat vs street estimate. The NII for the quarter came in at 16.5% higher than the street estimate of Rs. 1778 crores. And, lastly Net profit for the quarter was 7.5% higher vs the street estimate of Rs. 506 crores.

The NII for the quarter grew by 48.4% YoY to Rs. 2072 crore. This was due to an increase in interest earned by 38% Y-o-Y as against lower increase in interest expense by 22% Y-o-Y.

Its AUM for Q1FY18 increased by 39% to Rs. 68883 crore from Rs.49608 crore as of Q1FY17. This was due to 132% growth in rural lending to Rs. 3916 crores in Q1FY18 vs Rs. 1688 crores in Q1FY17.

Its GNPA & NNPA stood at 1.7% & 0.53% as on Q1FY18 and capital adequacy ratio stood at 20.15%

Net profit for the quarter increased by 42% YoY to Rs.602 crore.

Provisions for Q1FY18 were Rs. 285 crore as against Rs. 180 crores in Q1FY17. The provisioning coverage ratio as of Q1FY18 stood at 69%.

Technical View:

Bajaj Finance Ltd is currently trading at Rs. 1,560.25, up by 47.4 points or 3.13% from its previous closing of Rs. 1,512.85 on the BSE.
The scrip opened at Rs. 1,516.30 and has touched a high and low of Rs. 1,577.85 and Rs. 1,516.30 respectively. So far 15,25,939(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

BSE 1,721.05 37.10 (2.20%)
NSE 1,729.60 43.75 (2.60%)

***Note: This is a NSE Chart

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