Bajaj Finance shines on reporting a 31% rise in Q4 consolidated net profit!
The shares of the company gained more than 10% in the last one month.
Quarter and Annual Results
On a consolidated basis, the company has reported a rise of 30.51% in its net profit at Rs 3,157.79 crore for the fourth quarter ended March 31, 2023, as compared to Rs 2,419.51 crore for the same quarter in the previous year. Total income of the company increased by 31.68% at Rs 11,363.14 crore for Q4FY23 as compared to Rs 8,629.35 crore for the corresponding quarter previous year.
For the year ended March 31, 2023, on a consolidated basis, the company has reported a 63.74% rise in its net profit at Rs 11,507.69 crore as compared to Rs 7,028.23 crore for the previous year. The total income of the company increased by 30.83% at Rs 41,405.69 crore for the year under review as compared to Rs 31,648.05 crore for year ended March 31, 2022.
Share price movement of Bajaj Finance Limited
The positive quarterly results led to a surge in the stock price of Bajaj Finance Limited, which gained about 3% in the morning trade today. The stock opened at Rs 6059, with a high and low of Rs 6253.70 and Rs 6059, and is currently trading at Rs 6240.
The company's shares have a 52-week high of Rs 7777 and a 52-week low of Rs 5235.60, with a market capitalization of Rs 3,77,604.12 crore.
Bajaj Finance is mainly engaged in the business of lending. BFL 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 a variety of financial services products to its customers.
Share Market Today
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