Published on 22/10/2019 1:46:47 PM | Source: Live Mint

Bajaj Finance beats estimates in Q2, shares hit new high

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Bajaj Finance today reported a 63% surge in net profit for the quarter ended September 30, pushing its shares to new high in noon trade. Bajaj Finance shares rose as much as 2% to a new high of ₹4219.5 after the earnings announcement. Bajaj Finance had posted a net profit of ₹923 crore in the same quarter of the previous year.

Highlights of Bajaj Finance Q2 earnings:

Consolidated assets under management rose 38% to ₹135,533 crore

New loans booked during Q2 FY20 increased by 23% to 6.47 million from 5.26 million in 02 FY19.

Net Interest Income for Q2 FY20 was up by 48% to ₹3,999 crore from ₹2,708 crore in Q2 FY19

Total operating expenses to net interest income for Q2 FY20 was 34.6% against 35.4% in Q2 FY19.

Loan losses and provisions (expected credit loss) for Q2 FY20 was ₹594 crore as against ₹315 crore in 02 FY19