Stock Market update: Bajaj Finance shares down by 3% despite strong performance in Q3

The shares of Bajaj Finance came down by 3% post the strong Q3 results. Whereas, the company was trading in green earlier this morning.

The shares of Non-banking financial company Bajaj Finance Limited fell by 3% in today’s trade this afternoon despite trading in green in today’s early trade. The share price this afternoon hit at Rs 7,511.30 per share and representing a decrease of 3%.

Whereas, the trade today opened at Rs 7850.00 per share with an increase of 1.37% and hit a high of Rs 8045 per equity share, representing an increase of 3.87%. However, the shares fell rapidly this afternoon.

On Tuesday, Bajaj Finance announced its financial report results for the quarter ending December 2021 and stated that the net profits for the quarter ended December increased 84.42 percent to Rs 1933.85 crore from Rs 1048.58 crore in the corresponding quarter last year. The company said its interest income rose 27.38 per cent year-on-year (YoY) to Rs 6335 crore from Rs 4973 crore in the same quarter a year ago.

Bajaj Finance said consolidated profit after tax rose 85.42 per cent to Rs 2,125 crore from Rs 1,146 crore. Gross NPA and Net NPA as of December 31, 2021, stood at 1.73% and 0.78% respectively, as against 2.45% and 1.10% as of September 31, 2021.

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