Bajaj Finance Up 5% Following Q2 Results; Net Profit Zooms 13%

Shares of Bajaj Finance rose by 5% on Wednesday’s trading session after the company reported its second quarter (Jul-Sep) results. Consolidated net profit was up by 13% to ₹4,014 crore while consolidated income increased to ₹17,095 crore.

Following two days of consecutive falls, the stock rose to its intraday high of ₹7,049.90, a rise of 5.57%. Total expenditure was reported at ₹11,697 crore as compared to ₹8,624 crore in the year-ago period.

Taking a downhill slide, the asset quality worsened as gross non-performing assets rose to 1.06% of the gross loans for the September quarter as compared to the same period a year ago. Non-Performing Assets surged to 0.46% as compared to 0.31% from the same quarter last year.

At around 11 am, Bajaj Finance traded at around ₹7,071.75 per share on the NSE. Aso of now, the stock has given negative returns of 3.24% in 2024