Bajaj Finance hits record high as Q4 profit beats estimates;stock surges 7%

The stock rallied 7% to Rs 2,045, also its record high on the BSE, after the company reported a better than expected 60% YoY jumped in its standalone net profit at Rs 7.21 billion in March quarter

Bajaj Finance has moved higher by 7% to Rs 2,045, also its record high on the BSE, after the company reported a better than expected 60% year on year (YoY) jumped in its standalone net profit at Rs 7.21 billion in March quarter (Q4FY18). The stock surpassed its previous high of Rs 1,989 recorded on September 8, 2017 in intra-day trade.

Net revenue from operations grew 40% at Rs 23.43 billion against Rs 16.78 billion in the corresponding quarter of previous fiscal.

Analysts on an average had expected profit of Rs 6.46 billion and Rs 23.02 billion operational