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Bajaj Finance has reported a 33 per cent jump in its third quarter net profit at Rs 160 crore (Rs 120 crore) helped by higher interest and fee income.
Investors’ cheered the Pune-based company’s good performance, with the company’s stock touching an all-time high of Rs 1,458.70 on the Bombay Stock Exchange in intra-day trade. It had closed at Rs 1,396.20 on Monday.
During October-December, the non-banking financial company posted a 37 per cent rise in interest and fee income at Rs 828 crore.
The company had set aside Rs 51 crore to cover potential loan losses during the quarter, 42 per cent more than the same period a year ago.
Net interest income, the difference between interest earned and interest expended, increased 27 per cent to Rs 507 crore (Rs 398 crore).
>satyanarayan.iyer@thehindu.co.in
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