Bajaj Finance gains 3% as Q3FY19 profit rises 53.6% yoy

The company's consolidated NII in the quarter came in at Rs3,094cr, a yoy improvement of 46%.

Jan 30, 2019 07:01 IST India Infoline News Service

Shares of Bajaj Finance were trading 3% higher on Wednesday as the company’s net profit for Q3FY19 beat the consensus estimates by 6%. The company reported its net profit at Rs1,060cr against Rs690cr, up 53.6% yoy.

Bajaj Finance Ltd's Q3FY19 consolidated NII came in at Rs3,094cr, an improvement of 46% yoy. Its GNPA increased 6bps qoq to 1.55% and NNPA increased 9bps qoq to 0.62%, respectively.

Margins expanded sequentially as BAF increased lending rates between 10-35bps across segments, while the cost of funds increased 5bps qoq.

Bajaj Finance Ltd's share price is currently at Rs2,595.05, up Rs83.15, or 3.31%, from its previous close of Rs2,511.90 on the BSE.
The scrip opened at Rs2,572.20 and has touched a high and low of Rs2,621.85 and Rs2,547.05, respectively. So far, 26,66,565 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs1,45,179.88cr.

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