Bajaj Finance surges on robust Q2 earnings

Standalone net profit grew 42% to Rs 279.4 crore for the quarter ended September 2015

Shares of Bajaj Finance were up over 5% at Rs 5,280 on the BSE after the company reported 42% growth in standalone net profit at Rs 279.4 crore for the quarter ended September 2015 compared with Rs 197 crore in the corresponding quarter last fiscal.

Other income during the September 2015 quarter was higher at Rs 20.6 crore compared with Rs 9.6 crore in the same quarter last fiscal.

Income from operations during the quarter under review increased 36% to Rs 1,592 crore compared with Rs 1,170 crore in the quarter ended September 2014.

The stock opened at Rs 5,036 and touched a high of Rs 5,297. At 2:12pm, over 244,000 shares were traded on both the stock exchanges.