Bajaj Housing Finance Shares Surge 4% on Strong Q4 Earnings

New Delhi, Apr 24 (PTI) Shares of Bajaj Housing Finance on Thursday climbed nearly 4 per cent after the firm reported a 54 per cent rise in net profit in the March quarter.

The stock rallied 3.90 per cent to Rs 137 on the BSE.

At the NSE, it jumped 3.85 per cent to Rs 136.96 apiece.

Bajaj Housing Finance on Wednesday reported a 54 per cent rise in net profit to Rs 587 crore in the March quarter on account of robust growth in housing loans.

The housing finance company had recorded a net profit of Rs 381 crore in the same quarter a year ago.

Total income increased to Rs 2,508 crore during the quarter under review, from Rs 1,997 crore a year earlier, Bajaj Housing Finance said in a regulatory filing.

The company earned an interest income of Rs 2,374 crore during the quarter, against Rs 1,908 crore in the same period a year ago.

During the reporting quarter, the company's net interest income grew 31 per cent to Rs 823 crore, as against Rs 629 crore reported in the same quarter last fiscal year.