Bajaj Finance rises 4% on strong Q4 numbers

Share price of Bajaj Finance rose 4 percent intraday on May 16 after company reported 57 percent jump in its Q4FY19 consolidated net profit at Rs 1,176 crore against Rs 748 crore in a year ago period.

Net interest income (NII) was up 50% at Rs 3,395 crore versus Rs 2,265 crore.

Net NPA of the company was at 0.63 percent, while Gross NPA stood at 1.54 percent, QoQ.

It loan losses and provisions declined to Rs 409 crore from Rs 454 crore, QoQ.

However, the provision coverage ratio unchanged at 60 percent (QoQ) and AUM as of March 31 was up 41 percent at Rs 1.16 lakh crore.

The company board recommended a dividend of Rs 6 per equity share (300%) of face value of Rs 2, subject to approval of the shareholders at the 32nd annual general meeting to be held on July 25, 2019.

At 14:50 hrs Bajaj Finance was quoting at Rs 3,072.00, up Rs 69.45, or 2.31 percent on the BSE.