Bajaj Finance Q4 profit surges 50% to Rs 1,114 cr

Bajaj Finance Q4 profit surges 50% to Rs 1,114 cr

New Delhi: Bajaj Finance Thursday reported a 50 per cent jump in its standalone net profit at Rs 1,114 crore for the last quarter of the fiscal ended March 2019. The company had registered a net profit of Rs 743 crore in the corresponding quarter a year ago.

Total income during January-March quarter of 2018-19 rose to Rs 4,887.76 crore from Rs 3,424.99 crore in the year-ago period, the company said in a regulatory filing.

For the fiscal year ended March 2019, the net profit rose to Rs 3,890 crore as compared with Rs 2,485 crore in 2017-18.

The company's board has recommended a dividend of Rs 6 per equity share or 300 per cent of face value of Rs 2.

Gross non-performing assets (NPAs) and net NPAs stood at 1.54 per cent and 0.63 per cent, respectively, at the end of March 2019.

Shares of Bajaj Finance Thursday climbed four per cent after the company reported a 50 per cent jump in standalone net profit for the March 2019 quarter. The scrip gained 3.64 per cent to close at Rs 3,111.80 on the BSE. Intra-day, it rose 4.29 per cent to Rs 3,131.50.

It was the top gainer among the 30 Sensex companies. On the National Stock Exchange (NSE), shares climbed 4 per cent to close at Rs 3,124 apiece.

In terms of traded volume, 3.40 lakh shares were traded on the BSE and over 36 lakh on the NSE.

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