Shares of Bajaj Finance extended gains in the morning session on Wednesday after the company posted good numbers in the September quarter. The company’s net profit for Q2FY19 at Rs923cr beat consensus estimates, against Rs598cr yoy, up 54.3% yoy.
The company’s Q2FY19 consolidated NII stood at Rs2,665cr as against Rs1,942cr yoy, a rise of 37% yoy.
Provisions were higher than estimated due to higher provisions on loan losses as well as the additional provision for the IL&FS exposure.
GNPA ratios across segments were largely stable on a qoq basis, barring the mortgage segment which deteriorated 23bps to 0.79%.
Bajaj Finance Ltd is currently trading up 5.97% at Rs2,208.40 from its previous closing of Rs2,083.95 on the BSE.
The scrip opened at Rs2,162.05 and has touched a high and low of Rs2,230 and Rs2,162.05 respectively.
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