Bajaj Finance stocks rallied more than 4 percent to hit an record high of Rs 4,444.00 on January 29 after earnings beat analyst expectations, and the stock continued its rally touched intraday high of 4485.00 (at the time of writing) in the early trade on January 30, 2020.
The non-banking finance company reported profit of Rs 1,614 crore in Q3FY20, a growth of 52 percent year-on-year (Y-o-Y), driven by strong NII and AUM with stable asset quality.
Net interest income jumped 42 percent Y-o-Y to Rs 4,537 crore in December ended quarter, with 13 percent growth in new loans.
Gross NPA was unchanged at 1.61 percent QoQ, but net NPA increased 5bps sequentially to 0.70 percent in Q3FY20.
Loan losses and provisions (expected credit loss) for Q3 was Rs 831 crore (increased significantly from Rs 451 crore in Q3FY19 and Rs 594 crore in Q2FY20).
Total slippages for the quarter at Rs 936 crore increased 19 percent over Rs 786 crore reported in Q2FY20.
The stock has been a strong outperformer in last several years, giving near 80 percent return in last one year.