Bajaj Finance share price hits all-time high on record Q3 net profit

Bajaj Finance share price hit its all-time high in early trade today after the firm reported its highest ever quarterly net profit at Rs 1,614 crore in third quarter on the back of healthy interest income.  Share price of Bajaj Finance rose 1.44% to Rs 4,485.75 in early trade today compared to the previous close of Rs 4,421.75 on BSE.

The large cap stock has gained 7% in last three sessions. The stock has gained 70.7% during the last one year.  16 of 26 brokerages rate the stock "buy" or 'outperform', nine "hold" and one "underperform", according to analysts' recommendations tracked by Reuters.

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Market capitalisation of the firm rose to Rs 2.67 lakh crore on BSE.  0.49 lakh shares changed hands amounting to turnover of Rs 21.97 crore. Net profit of the non-banking finance company rose 52 per cent in Q3 compared with Rs 1,060 crore profit in the year-ago quarter.

Total income rose 41 per cent to Rs 7,026 crore for October-December of 2019-20 as against Rs 4,992 crore in year ago period.

Net interest income gained 42 per cent at Rs 4,537 crore in Q3 compared to Rs 3,206 crore in the corresponding period of previous fiscal.  Interest income rose 39 per cent to Rs 6,105 crore in last quarter from Rs 4,387 crore in Q3 of 2018-19.

Assets under management (AUMs) as on December 31, 2019, rose to Rs 1,45,092 crore, up 35 per cent from Rs 1,07,507 crore. New loans booked in terms of volume increased 13 per cent to 76.7 lakh from 67.7 lakh, it added.

Gross non-performing assets (NPAs) and net NPAs as on December 31, 2019, stood at 1.61 per cent and 0.70 per cent, respectively.

By Aseem Thapliyal