Bajaj Finance share price cracks 5% today: What’s happening?
Bajaj Finance share price fell almost 5 per cent in morning trade on BSE today, a day after the company reported its December quarter (Q3FY24) numbers. At opening, Bajaj Finance share price was at ₹6,993 against the previous close of ₹7187.50. After this, it fell 4.8 per cent to the day’s low level of ₹6,841.65. At 10am, the stock traded 3.78 per cent lower at ₹6,915.55. In October last year, Bajaj Finance share price hit its 52-week high of ₹8,190. In March last year, the share prices were at a 52-week low of ₹5,487.25.
Bajaj Finance reported a 31.3 per cent year-on-year (YoY) rise in consolidated revenue from operations to ₹14,161.09 crore. In the same quarter last year, the company’s revenue stood at ₹10,787.25 crore. The report also showed that profit after tax (PAT) for Q3FY24 rose 22.4 per cent YoY to ₹3,638.95 crore from ₹2,973 crore in the same quarter last year.
The company said its consolidated assets under management (AUM) crossed a milestone of ₹3,00,000 crore this quarter and stood at ₹3,10,968 crore as of December 31, 2023.
According to the company, its net interest income increased by 29 per cent in the period to ₹7,655 crore from ₹5,922 crore YoY.
“Gross NPA and net NPA as of December 31, 2023, stood at 0.95 per cent and 0.37 per cent respectively against 1.14 per cent and 0.41 per cent as of December 31, 2022. The company has a provisioning coverage ratio of 62 per cent on stage 3 assets as of December 31, 2023,” Bajaj Finance said.
