Bajaj Finance gains 3% after Q4FY19’s PAT beats estimates

The lander’s consolidated NII has come at Rs3,395cr, which has improved by 50% yoy.

May 16, 2019 09:05 IST India Infoline News Service

Shares of Bajaj Finance were trading 3% higher on Thursday after the company’s net profit for Q4FY19 beat consensus estimates by 2%, which came at Rs1,176cr against Rs748cr, which is up by 57% yoy.

The lander’s consolidated NII has come at Rs3,395cr, which has improved by 50% yoy.  Its GNPA has decreased by 1bps qoq to 1.54% and NNPA has increased by 1bps qoq to 0.63%, respectively.

Loan losses and provisions for the quarter came in at Rs 409cr as against Rs454cr qoq. Provision coverage ratio for the quarter came at 60%, which is flat qoq, while, Asset under management increased by 31% yoy to Rs1.16 lakh cr.

Bajaj Finance Ltd's share price is currently at Rs3,099.20, up by Rs96.65 or 3.22%, from its previous close of Rs3,002.55 on the BSE.
The scrip opened at Rs3,006.50 and has touched a high and low of Rs3,130 and Rs3,006.50, respectively. So far, 34,13,044 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs1,73,537.90cr.

Related Story