Bajaj Housing Finance Surges After Impressive Profit Growth

Bajaj Housing Finance shares soared nearly 4% following the announcement of a 54% increase in net profit for the March quarter. This rise, driven by strong housing loan growth, marked a profit of Rs 587 crore, up from Rs 381 crore last year.

Shares of Bajaj Housing Finance leaped by nearly 4% on Thursday, buoyed by the company's announcement of a robust 54% rise in net profit for the March quarter.

The stock surged 3.90% to settle at Rs 137 on the BSE, while it ascended 3.85% to Rs 136.96 on the NSE. The firm credited its profit surge to significant growth in housing loans, reporting a net profit of Rs 587 crore, up from Rs 381 crore during the same period last year.

Bajaj Housing Finance also experienced a total income boost, reaching Rs 2,508 crore from the previous Rs 1,997 crore. Interest income during the quarter was substantial at Rs 2,374 crore compared to Rs 1,908 crore last year. Impressively, the company's net interest income grew by 31% to Rs 823 crore.

(With inputs from agencies.)