 "Bajaj Finance hits lifetime high on strong Q3 results")
Bajaj Finance has soared 10% to Rs 3,821 on BSE after reporting a strong 33% year-on-year (yoy) jump in net profit at Rs 258 crore in October-December 2014 quarter (Q3), on back of strong operational income. The company had profit of Rs 194 crore in the same quarter last fiscal.
Analyst on an average had expected net profit of Rs 239 crore for the quarter.
Net interest income or NII grew 33% at Rs 893 crore against Rs 672 crore in the corresponding quarter of previous year, Bajaj Finance said in a statement.
Gross non-performing assets (NPA) and net NPA as of December 31, 2014 stood at 1.50% and 0.49% respectively, it added.
The stock opened at Rs 3,500 and touched a lifetime high of Rs 3,890 on BSE. Till 1400 hours, a combined 185,964 shares changed hands against an average sub 50,000 shares that were traded daily in past two weeks on BSE and NSE.
Analyst on an average had expected net profit of Rs 239 crore for the quarter.
Net interest income or NII grew 33% at Rs 893 crore against Rs 672 crore in the corresponding quarter of previous year, Bajaj Finance said in a statement.
Gross non-performing assets (NPA) and net NPA as of December 31, 2014 stood at 1.50% and 0.49% respectively, it added.
The stock opened at Rs 3,500 and touched a lifetime high of Rs 3,890 on BSE. Till 1400 hours, a combined 185,964 shares changed hands against an average sub 50,000 shares that were traded daily in past two weeks on BSE and NSE.