Tuesday, October 23, 2018

Excellent results from Bajaj Finance fails to lift the stock

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Bajaj Finance has reported 54 per cent year-on-year profit at  Rs 923 crore for September quarter, as against Rs 598 crore profit in the year-ago quarter.

Consolidated net interest income came in at Rs 2,729 crore for the quarter, up 42 per cent over Rs 1,925 crore in the same quarter last year. 

Customer franchise as of September 2018 increased by 31 percent to 30.05 million from 22.99 million as of September 2017.

Asset quality has deteriorated  in second quarter with gross non-performing assets as a percentage of gross advances rising 1.49 percent against 1.39 percent in previous quarter. Net NPA for the quarter stood at 0.53 percent, as compared to 0.44 percent in June quarter.

However the  results failed to lift the stock in today's trade. The stock closed at Rs 2035, up less than a percent. Intra day the stock touched low of Rs 1997.

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