Bajaj Finance Q1 new loans booked at 7.3mn; stock rallies 6%

Assets under management (AUM) stood at ~Rs1,29,000cr as of June 30, 2019 as compared to Rs91,287cr as of June 30, 2018 and Rs1,15,888cr as of March 31, 2019.

Jul 09, 2019 06:07 IST India Infoline News Service

Shares of Bajaj Finance rallied 6% in the afternoon trade on Tuesday after the company updated its business first-quarter numbers. Its new loans booked during Q1FY20 was 7.3mn as compared to 5.6mn in Q1FY19.

Customer franchise as of June 30, 2019, stood at approximately 36.9mn as compared to 28.3mn as of June 30, 2018. During the quarter, the company acquired 2.5mn new customers, the company said in the filing.

Assets under management (AUM) stood at ~Rs1.29 lakh cr as of June 30, 2019 as compared to Rs91,287cr as of June 30, 2018 and Rs1.15 lakh cr as of March 31, 2019.

The stock fell on Monday as it was the sharpest intra-day fall in over five months on the BSE. The stock posted its biggest fall since January 28, when it tanked 9% in intra-day deal. Sanjiv Bajaj in a TV interview on Monday that the company had seen lower growth in the first quarter of FY19.

The company said in FY19 annual report that, “the recent increases in international crude prices; some high-frequency indicators — such as growth in manufacturing and capital goods, the Index of Industrial Production, auto sales — suggest a significant moderation in activity, amid a slowing global economy”.

Bajaj Finance Ltd is currently trading at Rs3,589, up by Rs174.25 or 5.1% from its previous closing of Rs3,414.75 on the BSE. The scrip opened at Rs3,414 and has touched a high and low of Rs3,624.05 and Rs3,338.75 respectively.

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