Bajaj Finance shares soar 5% after Q2 earnings; market valuation jumps Rs 20,460.93 cr

New Delhi: Shares of Bajaj Finance Ltd (BFL) on Wednesday ended nearly 5 per cent higher after the firm reported a 13 per cent increase in consolidated net profit at Rs 4,014 crore for the second quarter ended September 30, 2024.

The stock jumped 4.95 per cent to settle at Rs 7,007.95 on the BSE. During the day, it surged 6.31 per cent to Rs 7,099.

At the NSE, it climbed 4.89 per cent to Rs 7,004.85.

The stock emerged as the biggest gainer among the Sensex and Nifty firms.

Tracking the rally in the stock, the company's market valuation surged by Rs 20,460.93 crore to Rs 4,33,789.53 crore.

The non-banking finance company had posted a net profit of Rs 3,551 crore in the July-September quarter a year ago.

Its total consolidated income increased to Rs 17,095 crore during the quarter under review, as against Rs 13,382 crore in the same period a year earlier, BFL said in a regulatory filing on Tuesday.

The Pune-headquartered company's total expenditure rose to Rs 11,697 crore, compared to Rs 8,624 crore in the year-ago period.