Share price of Bajaj Finance surged over 3.5% on Wednesday after the company reported stellar Q3 results beating street estimates. The company on Tuesday reported an 85.5% rise in consolidated net profit at Rs 2,125 crore for the third quarter from Rs 1,146 crore in the year-ago period. Company’s Net Interest Income (NII) rose 40% at Rs 6,000 crore as compared to Rs 4,296 crore year-on-year (YoY). Bajaj Finance stock surged 3.6% to touch a 52-week high of Rs 8,043 per share on the BSE. The financial service major delivered an all-round healthy performance in all its key business parameters, said Motilal Oswal. The brokerage believes that its customer acquisitions and new loans booked have reached pre-covid levels and will soon breach historical highs in subsequent quarters.
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