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Finance lender, Bajaj Finance Limited reported a 61 pc rise in its net profit
to Rs 721 crore for the Q4 ending March 2018 versus Rs 615 crore in the
year-ago period. The profit surpasses analyst
estimates due to healthy loan growth and stable asset quality for the period.
Reacting
to the profit growth, on the market closing hours, Bajaj Finance Limited’s share
price settled 7.71% at Rs. 2067.95 on NSE. In a regulatory filing to the Stock Exchange, the
company said that its Q-4 net interest income was up by 40 pc at Rs 2,365 crore
from Rs 1,686 crore in the previous year.
The
gross NPAs stood at 1.48 pc, up from last quarter's 1.67 pc, while net NPAs
stood 0.38 pc of the total assets.
Bajaj
Finance Ltd in its press release said that it continues to provide for loan losses
in excess of requirements set by the RBI.
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