On the back of a surge in its loan book – Bajaj Finance booked 5.8 million new loans in Q4FY19, up 53% (YoY), the company posted a very good show for the quarter.
Its consolidated (includes Bajaj Housing Finance and Bajaj Financial Securities) net profit surged 57% (YoY) at Rs.1176 crore. Its NII rose 50% to Rs. 3385 crore.
Its assets under management (AUM) grew 41% to Rs.1.15 trillion in Q4FY19, emerging as one of the largest retail asset financing NBFCs in India.
As on 21 March, 2019, it had cash and cash equivalents of Rs.3,525 crore and unutilized bank lines of Rs.4,202 crore.
Gross and Net NPA stood at 1.54% and 0.63%, respectively. The provisioning coverage ratio was 60%.
The market is thrilled to bits with the performance of the company and the stock price hit an all time high today at Rs.3282.