Bajaj Finance Q3 net profit rise by 36%, shares jump

Bajaj Finance reported a net profit of Rs 555.6 crore during the quarter ended on December 31, a jump of 36% as compared to Rs 408.4 crore during the same period last year. 

The total income for Q3FY17 rose by 32% to Rs 2,729 crore from Rs 2,069 crore in Q3FY16. During the quarter, the new loans booked increased by 35% to 28,79,595 from 21,39,041 during the same period a year ago.

The company's gross non-performing assets and net NPA stood at 1.47% and 0.39% respectively. The provisioning coverage ratio was at 74% in Q3FY17. 

Pune-based company's loan losses and provision for Q3FY17 rose by 23% to Rs 180 crore as against Rs 146 crore in Q3FY16. The assets under management increased by 33% to Rs 57,605 crore from Rs 43,452 crore in Q3FY16. 

At 1307 hours the shares of the company were trading at Rs 1027.50 per piece, up 3.31% or Rs 33.55 on BSE.