Bajaj Finance share price hit record high after the NBFC reported 57 per cent jump in Q4 consolidated net profit.
Bajaj Finance share price hit record high after the NBFC reported 57 per cent jump in Q4 consolidated net profit. The shares of Bajaj Finance gained as much as 4.4 per cent to a record high of Rs 3,248 in the early trade today. The shares of Bajaj Finance were trading at Rs 3,268.40, up 158.35, or 5.09 per cent on NSE at the time of trading. The shares of the company had previously closed at 3,110.05 on NSE. On Thursday, the firm posted a consolidated net profit of Rs 1,176.06 crore for the fourth quarter 2019. The NBFC recorded a net interest income (NII) of Rs 3,395 crore in the fourth quarter, up 50 per cent on a on-year basis, the Bajaj Finance said in an exchange filing. In the quarter under review, the financial lender Bajaj Finance recorded 5.83 million fresh loans, up 53 per cent from 3.8 million in the same period last year. The rise is assets under management recorded a growth of 41 per cent to Rs 1.15 lakh crore in the fourth quarter of fiscal 2019 at Bajaj Finance.
The board of Bajaj Finance also recommended a dividend of Rs 6 per equity share of face value of Rs 2. The dividend would be subject to approval of the shareholders at the 32nd AGM that would be held on July 25, 2019. The rating agency CRISIL recently said that the asset-liability profile of Bajaj Finance stands at a comfortable level.
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Meanwhile, the benchmark BSE Sensex climbed more than 200 points and the NSE Nifty reclaimed the 11,300 level in early trade today. The BSE Sensex was trading 201.24 points, or 0.54 per cent, higher at 37,594.72. The NSE Nifty was also trading 57.20 points, or 0.51 per cent, higher at 11,314.30.