News

Private sector non-banking financial company (NBFC) Bajaj Finance on Tuesday reported a net profit of Rs 4,066 crore for the quarter ended December 31, marking a decline of 5.6 per cent from its net profit for the corresponding period a year ago. The quarterly net profit fell short of Street expectations. Earlier on Tuesday, Bajaj Finance shares jumped 6.7 per cent to end at Rs 964.8 apiece on BSE amid a broad-based recovery on Dalal Street, driven by optimism around a major trade deal between India and the US in a second day of recovery following the Budget day sell-off.

The NBFC's fiscal third-quarter net profit failed to keep up with analysts' estimates.

According to Zee Business research, Bajaj Finance was estimated to register a net profit of Rs 5,173 crore for the October-December period.

Bajaj Finance's quarterly net interest income (NII) -- a key measure of revenue -- jumped 20.6 per cent on a year-on-year basis to Rs 11,318 crore.

The analysts had estimated this metric at Rs 11,268 crore.