Bajaj Finance fell 3.16% to Rs 2051.55 at 15:03 IST on BSE after consolidated net profit rose 54.46% to Rs 923.47 crore on 40.13% increase in total income to Rs 4296.35 crore in Q2 September 2018 over Q2 September 2017.
The result was announced during trading hours today, 23 October 2018.Meanwhile, the S&P BSE Sensex was down 366.89 points, or 1.07% to 33,767.49.
On the BSE, 4.70 lakh shares were traded in the counter so far compared with average daily volumes of 3.01 lakh shares in the past two weeks. The stock had hit a high of Rs 2151 and a low of Rs 2000.80 so far during the day. The stock hit a record high of Rs 2,995.10 on 30 August 2018. The stock hit a 52-week low of Rs 1,514.40 on 6 February 2018.
Loan losses and provisions for Q2 September 2018 were reported at Rs 315 crore as against Rs 221 crore in Q2 September 2017.
Assets under Management (AUM) as of 30 September 2018 grew by 38% to Rs 1,00,217 crore from Rs 72,669 crore as of 30 September 2017.
New loans booked during Q2 September 2018 increased by 63% to 5.26 million from 3.23 million in Q2 September 2017.
Customer franchise as of 30 September 2018 increased by 31% to 30.05 million from 22.99 million as of 30 September 2017.
Bajaj Finance is one of the largest players in the consumer finance segment in India. Apart from consumer finance, the company also has substantial business penetration in SME, commercial and rural lending.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
