Bajaj Housing Finance Ltd.'s share price rose over 4% on Tuesday after its consolidated net profit surged 26% year-on-year for the quarter ended September 2024.
The company's consolidated net profit stood at Rs 546 crore during the July-September quarter of fiscal 2025, compared to Rs 451 crore in the year-ago period, according to an exchange filing.
The net interest income, which is the difference between interest earned and interest paid, grew 13% to Rs 713 crore. The NII stood at Rs 632 crore in the same quarter last year.
Bajaj Housing Finance's revenue from operations grew to Rs 2,410 crore during the July–September period, a jump of 26% from Rs 1,911 crore posted in the corresponding quarter of the previous fiscal. The assets under management during the quarter under review totalled to Rs 1.03 lakh crore, up 26% from Rs 81,215 crore in the year-ago period.
The company's asset quality slipped in the September quarter. The gross non-performing assets ratio widened to 0.29% as compared to 0.24% in the year-ago period. In the same period, the net NPA ratio expanded to 0.12% from 0.09%.
Bajaj Housing Finance announced the results a day before its parent company, Bajaj Finance Ltd., will release its quarterly performance.
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Bajaj Housing Finance share price rose 4.2% after market open to Rs 142.33 apiece.
Bajaj Housing Finance share price rose 4.2% to Rs 142.33 apiece. It was trading 1% higher at Rs 137.96 as of 9:25 a.m., compared to the benchmark Nifty 50 up 0.16%.
The stock had listed on the bourses on Sept. 16. This was the first quarterly results declared by the company after its Rs 6,560-crore IPO.
Out of the four analysts tracking the stock, one each has a 'buy' and 'hold' rating and two recommend a 'sell', according to Bloomberg data. The average of 12-month analyst price target is Rs 137.75, implying a potential downside of 0.2%.
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