Bajaj Finance Q2FY19 profit jumps by 54 per cent

Bajaj Finance reported its results for the quarter ended September 30, 2018.

The NII for the quarter increased by 35.9 per cent yoy and 3.3 per cent qoq to Rs. 2,319.86 crore in Q2FY19 as against Rs. 2,245.54 crore in Q1FY19 and Rs. 1,707.54 crore in Q2FY18. The interest income for the company grew by 36.4 per cent yoy to Rs. 3,887.2 crore in Q2FY19 vs Rs. 2,848.91 crore in Q2FY18.

The net profit for the quarter came in at Rs. 923.47 crore, grew by 54 per cent as compared to Q2FY18.

AUM grew by 38 per cent to Rs. 1,00,217 crore from Rs. 72,669 crore in Q2FY18. Further, gross NPA and net NPA stood at 1.49 per cent and 0.53 per cent, respectively. Also, new loans booked during the quarter grew by 63 per cent.

On Tuesday, the stock opened at Rs. 2,098.90 and made an intraday high of Rs. 2,151 in early trade on the BSE. At 14:20 hours, the stock was trading around Rs. 2,038 per share.