Bajaj Finance surges on reporting 40% rise in Q3 consolidated net profit

Today, the stock opened at Rs 5790.00 and has touched a high and low of Rs 6056.05 and Rs 5773.00, respectively.

At 12 pm, the shares of Bajaj Finance were trading at Rs 6051, up by 295 points or 5.13% from its previous closing of Rs 5756.00 on the BSE.

At 4 pm on January 27, Bajaj Finance reported results for the third quarter that ended on December 31, 2022 (Q3FY23)

Bajaj Finance has reported a rise of 35.70% in its net profit at Rs 2,624.22 crore for Q3FY23 as compared to Rs 1,933.85 crore for the corresponding quarter previous year. The total income of the company increased by 22.38% to Rs 9,214.61 crore for the quarter under review as compared to Rs 7,529.66 crore for the same quarter in the previous year.

On a consolidated basis, the company has reported a rise of 39.89% in its net profit at Rs 2,973.00 crore for Q3FY23 as compared to Rs 2,125.29 crore for the same quarter in the previous year. The total income of the company increased by 26.31% to Rs 10,785.95 crore for the quarter under review as compared to Rs 8,539.13 crore for the same quarter in the previous year.

Bajaj Finance is mainly engaged in the business of lending. The company has a diversified lending portfolio across retail, SME and commercial customers with a significant presence in urban and rural India. It also accepts public and corporate deposits and offers various financial services products to its customers.

The BSE group 'A' stock of face value of Rs 2 has a 52-week high and low of Rs 7777.00 and Rs 5235.60, respectively.

Last one week high and low of the scrip stood at Rs 5997.50 and Rs 5680.10 respectively. The current market cap of the company is Rs 3,66,346.14 crore.

The promoters holding in the company stood at 55.91%, while Institutions and Non-Institutions held 32.30% and 11.79% respectively.