The shares of Bajaj Finance on Wednesday (October 23) experienced a rally after the company released its financial results of Q2FY25 on October 22.
Following this, the shares of the company today surged overs 6.1 per cent to hit an intraday high of Rs 7,088 apiece. Furthermore, the stock became the top gainer in the Nifty 50 index.
At 1:14 PM IST, the company's stock were trading at Rs 7,063.75, marking a 5.75 per cent surge.
The stock opened the day at Rs 6,605.75 and steadily gained during the session.
The company reported a consolidated net profit of Rs 4,013.7 crore, up 13 per cent from Rs 3,550.8 crore in Q2FY24.
Standalone and Consolidated Financial Results
In terms of standalone financials, Bajaj Finance reported a total income of Rs 14,491.79 crore in Q2 FY25, compared to Rs 11,411.02 crore a year ago. The total expenses also increased to Rs 9,845.18 crore from Rs 7,220.21 crore in the same period last year.
The company’s standalone profit after tax surged to Rs 5,613.71 crore from Rs 3,105.75 crore.
On a consolidated basis, the company posted total income of Rs 17,095.41 crore, a jump from Rs 13,384.08 crore in Q2 FY24.
Total expenses grew to Rs 11,697.38 crore, up from Rs 8,626.47 crore in the previous year.
Zomato Shares Recover After Tumbling Down More Than 5% Ignoring The Massive Jump Of 389% In Q2 Net Profit
Despite the rise in expenses, consolidated profit after tax increased to Rs 4,013.74 crore.
The non-banking finance giant also saw significant growth in its net interest income (NII), which rose 22.8 per cent to Rs 8,837.7 crore compared to Rs 7,196.3 crore in the same period last year.