The stock opened at ₹6,993, a decline from the previous close of ₹7,187.50, and dropped to a low of ₹6,841.65 later in the morning.
By 10 am, the share price had decreased by 3.78% to ₹6,915.55. Last year, the stock reached its highest point at ₹8,190 in October and its lowest point at ₹5,487.25 in March.
Bajaj Finance reported a YoY increase of 31.3% in its revenue from operations to ₹14,161.09 crore for Q3FY24. The company’s profit after tax also rose 22.4% YoY to ₹3,638.95 crore.
In addition, Bajaj Finance announced that its consolidated assets under management surpassed ₹3,00,000 crore, reaching ₹3,10,968 crore by the end of December 2023.
The company reported a 29% increase in net interest income to ₹7,655 crore during the period.
Bajaj Finance disclosed that the gross non-performing assets (NPA) and net NPA as of December 31, 2023, were 0.95% and 0.37% respectively, compared to 1.14% and 0.41% on December 31, 2022. The provision coverage ratio on stage 3 assets was 62% as of December 31, 2023.
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