Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Bajaj Finance Shares Tumble 5.6 Percent After Q1 Results on Asset Quality Concerns

Bajaj Finance’s consolidated net profit rose by a whopping 43% year-on-year to Rs 1,195 crore during the June quarter compared with Rs 835.9 crore in the same quarter last year.

Trending Desk

Updated:July 26, 2019, 8:03 AM IST
facebookTwitterskypewhatsapp
Bajaj Finance Shares Tumble 5.6 Percent After Q1 Results on Asset Quality Concerns
Photo for representation only. (Image: Reuters)
Loading...

Bajaj Finance Ltd shares tumbled as much as 5.6% in intraday trade on Thursday, i.e. 25 July, despite the non-banking finance company (NBFC) posting its highest ever quarterly consolidated profit in the three months ended June (Q1).

At 2:21 pm, shares of Bajaj Finance were trading at Rs 3,086.20, down 2.75%, on BSE after hitting an intra-day low of Rs 2,996.20. The stock has lost over 12% in the last five trading sessions.

Bajaj Finance’s consolidated net profit rose by a whopping 43% year-on-year to Rs 1,195 crore during the June quarter compared with Rs

835.9 crore in the same quarter last year. Net interest income (NII) during the quarter also grew 43% to Rs 3,695 crore, mainly led by a 29.1% rise in new loans booked.

Bajaj Finance said its consolidated assets under management jumped 41% year-on-year to Rs 1.29 lakh crore at the end of June 2019. The NBFC also increased its customer franchise by 31% to 3.69 crore as of June 2019, against 2.82 crore in June 2018.

However, some asset quality concerns surfaced during the June quarter. Gross non-performing assets (NPAs) as a percentage of gross advances increased by 6 basis points sequentially to 1.6%, while net NPAs rose 1 basis point to 0.64% during the quarter.

Bajaj Finance also saw loan losses and provisions climbing 69% year-on-year and 35% quarter-on-quarter to Rs 551 crore in the June quarter.

Earlier this month, the company had announced that it had booked 7.3 million new loans during quarter ended June 2019 against 5.6 million in same period last year. The company had added it acquired 2.5 million new customers in Q1.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Ahona Sengupta
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 65.40 -8.15
Maruti Suzuki 6,228.90 0.61
Indiabulls Hsg 483.55 -7.26
Tata Motors 112.40 -9.25
SBI 277.40 -2.22
Company Price Change %Gain
Maruti Suzuki 6,222.95 0.39
Yes Bank 65.40 -8.21
Indiabulls Hsg 482.85 -7.40
Tata Motors 112.30 -9.29
Abbott India 8,945.00 -0.59
Top Gainers
Company Price Change %Gain
Hero Motocorp 2,714.25 1.69
Infosys 799.45 0.85
Bajaj Auto 2,764.80 0.80
Eicher Motors 16,000.50 0.66
Maruti Suzuki 6,228.90 0.61
Company Price Change %Gain
Hero Motocorp 2,716.90 1.78
Infosys 799.55 0.84
HUL 1,854.00 0.70
Bajaj Auto 2,761.75 0.69
Maruti Suzuki 6,222.95 0.39
Top Losers
Company Price Change %Gain
Tata Motors 112.40 -9.25
Yes Bank 65.40 -8.15
Indiabulls Hsg 483.55 -7.26
Tata Steel 343.00 -4.26
BPCL 327.80 -4.22
Company Price Change %Gain
Tata Motors 112.30 -9.29
Yes Bank 65.40 -8.21
Tata Steel 343.05 -4.26
Coal India 188.75 -3.33
ONGC 121.15 -3.12

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results