Bajaj Finance stock on Wednesday surrendered all its early gains and settled over 2 per cent lower on profit-taking.
During the early trade, it had jumped nearly 4 per cent after the company reported an 85.5 per cent rise in consolidated net profit for the third quarter of the current fiscal.
The stock spurted by 3.82 per cent to touch its 52-week high of Rs 8,043.50 during the day on the BSE. But, profit-taking emerged at the counter, and it settled at Rs 7,570.30, a decline of 2.28 per cent.
At the NSE, it settled at Rs 7,590, 1.98 per cent lower after jumping 3.88 per cent during the day to Rs 8,045.
In traded volume terms, 2.15 lakh shares were traded at the BSE and 50 lakh shares at the NSE during the day.
Bajaj Finance on Tuesday reported an 85.5 per cent rise in consolidated net profit at Rs 2,125.29 crore for the third quarter of the current fiscal.
Total income increased to Rs 8,535.06 crore for the quarter under review from Rs 6,658.34 crore in the year-ago period, according to a regulatory filing.
The consolidated assets under management rose by 26 per cent to Rs 1,81,250 crore during the three months ended December 2021. In the year-ago period, the same stood at Rs 1,43,550 crore.
Net Interest Income (NII) also witnessed a rise of 40 per cent at Rs 6,000 crore in the latest December quarter. It was at Rs 4,296 crore in the same period a year ago.
"Gross NPA and Net NPA as of December 31, 2021, stood at 1.73 per cent and 0.78 per cent, respectively, as against 2.45 per cent and 1.10 per cent (respectively) as of September 31 2021," it said.
The company posted a standalone profit of Rs 1,934 crore as against Rs 1,049 crore in the third quarter of FY21, registering a growth of 84 per cent.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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