Bajaj Finance share price cracks 5% today: What's happening?

Bajaj Finance share price: In October last year, Bajaj Finance share price hit its 52-week high of ₹8,190.

Published on: Jan 30, 2024, 11:24:06 IST

By HT News Desk

Prefer HTon Google

Share via

Copy link

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 share price: The stock rose 1.44 per cent to settle at ₹7,187.50.

Why is Bajaj Finance share price falling?

Read more: Paytm's mega cashback for Ayodhya bus, flight bookings: Details here

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.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Bajaj Finance

Stay updated with the latest Business News on Petrol Price, Gold Rate, Silver Rates, Diesel Prices along with Income Tax Calculator