Bajaj Finance sees best day in over 1.5 years as profit more than doubles

Shares of Bajaj Finance jumped as much as 9 per cent on Thursday, their biggest intraday gain since November 2020

BENGALURU (Reuters) - Shares of India's Bajaj Finance jumped as much as 9% on Thursday, their biggest intraday gain since November 2020, a day after it reported that its June-quarter profit more than doubled on growth across segments and lower bad loan provisions.

The non-banking finance company on Wednesday reported consolidated profit after tax of 25.96 billion rupees ($325.37 million), while its assets under management grew by 28% to 2.04 trillion rupees.

($1 = 79.7850 Indian rupees)

 

(Reporting by Nallur Sethuraman in Bengaluru; editing by Uttaresh.V)