Net profit of Bajaj Finserv rose 2.37% to Rs 845.34 crore in the quarter ended June 2019 as against Rs 825.77 crore during the previous quarter ended June 2018. Sales rose 39.92% to Rs 12271.66 crore in the quarter ended June 2019 as against Rs 8770.67 crore during the previous quarter ended June 2018.

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The result was announced after market hours yesterday, 25 July 2019.

Meanwhile, the S&P BSE Sensex was up by 86.4 points or 0.23% to 37,900.21.

On the BSE, 36000 shares were traded in the counter so far compared with average daily volumes of 22000 shares in the past two weeks. The stock had hit a high of Rs 7130.85 and a low of Rs 6626.1 so far during the day. It hit a 52-week high of Rs 8577.05 on 5 July 2019 and a 52-week low of Rs 4960 on 24 October 2018.

During this quarter, the tight liquidity conditions witnessed in the aftermath of a default by IL&FS did not show signs of abatement and companies with stronger balance sheets were favoured by lending banks and investors. This quarter also witnessed default by Dewan Housing Finance Limited (DHFL), a housing finance company, on a part of its commercial paper dues. In this difficult environment, it is heartening to see BFL continue to deliver excellent results. While both Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC) recorded strong growth in premiums, their profits were adversely impacted by provision for impairment on their holdings of DHFL's fixed income securities. BAGIC's underwriting result was also negatively impacted by losses from cyclone Fani which hit India's east coast in the quarter, the company said in a statement.

Bajaj Finserv (BFS) is the holding company for the various financial services businesses under the Bajaj group.

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Bajaj Finserv will hold a meeting of the Board of Directors of the Company on 25 July 2019.

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Bajaj Finserv Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 8244.55, up 3.15% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 2.85% on the day, quoting at 11732.25. The Sensex is at 38999.66, up 2.82%. Bajaj Finserv Ltd has risen around 10.33% in last one month.

Meanwhile, Nifty Financial Services index of which Bajaj Finserv Ltd is a constituent, has risen around 5.97% in last one month and is currently quoting at 12640.8, up 3.51% on the day. The volume in the stock stood at 2.3 lakh shares today, compared to the daily average of 2.26 lakh shares in last one month.

The benchmark May futures contract for the stock is quoting at Rs 8257.65, up 2.9% on the day. Bajaj Finserv Ltd is up 44.08% in last one year as compared to a 11.56% spurt in NIFTY and a 22.35% spurt in the Nifty Financial Services index.

The PE of the stock is 414.15 based on TTM earnings ending March 19.

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