Bajaj Finance's stellar show on strong demand; net profit rises 81% in Q1

The faster growth was despite some headwinds in the form of volatile weather which impacted demand

Bajaj Finance reported a sharp 81 per cent year-on-year growth rate in net profit for the June quarter (Q1). There was a 35 per cent year-on-year rise in assets under management (AUM; indicates loan book size) to Rs 933 billion.

Rajeev Jain, managing director, says strong consumer demand during the quarter propelled AUM growth. The Street celebrated the sturdy show with the stock hitting an all-time high of Rs 2,535.50, before closing at Rs 2,517.6 (1.2 per cent up), even as the market was flat.

The faster growth was despite some headwinds in the form of volatile weather which