Bajaj Housing Finance shares jump nearly 4% after Q4 earnings

Bajaj Housing Finance’s total income increased to ₹2,508 crore during the March quarter
| Photo Credit:
Indranil Aditya

Shares of Bajaj Housing Finance on Thursday climbed nearly 4 per cent after the firm reported a 54 per cent rise in net profit in the March quarter.

The stock rallied 3.90 per cent to ₹137 on the BSE.

At the NSE, it jumped 3.85 per cent to ₹136.96 apiece.

Bajaj Housing Finance on Wednesday reported a 54 per cent rise in net profit to ₹587 crore in the March quarter on account of robust growth in housing loans.

The housing finance company had recorded a net profit of ₹381 crore in the same quarter a year ago.

Total income increased to ₹2,508 crore during the quarter under review, from ₹1,997 crore a year earlier, Bajaj Housing Finance said in a regulatory filing.

The company earned an interest income of ₹2,374 crore during the quarter, against ₹1,908 crore in the same period a year ago.

During the reporting quarter, the company’s net interest income grew 31 per cent to ₹823 crore, as against ₹629 crore reported in the same quarter last fiscal year.