Bajaj Finance Ltd. reported third-quarter net profit of Rs.160.09 crore, up by 33 percent from the Rs.119.99 crore for the quarter ended December 31, 2011.
Its quarterly net income increased by 43 percent to Rs.791.68 crore from the Rs.554.72 crore in the year-ago quarter, while other operating income stood at Rs.33.00 crore, compared with Rs.48.04 crore in the corresponding period of the preceding year.
For the nine months, its net profit amounted to Rs.427.50 crore, compared with Rs.298.17 crore in the corresponding period of the preceding year, registering a 43 percent growth. Total income, including other operating income, was Rs.2,261.47 crore, higher by 46 percent than the Rs.1,544.11 crore for the nine months ended December 31, 2011.
The company’s board approved the raising of funds through issue of 67,60,117 equity shares of Rs.10 each on a rights basis in the ratio of three equity shares for every 19 equity shares at a price of Rs.1,100 apiece, aggregating to Rs.743.61 crore.
The board also approved the commencement of business of distribution of mutual fund products, subject to applicable regulatory approvals.
At the BSE, Bajaj Finance shares are currently hit a new high of Rs.1,411.60, up 1.10 percent from the previous close
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by RTT Staff Writer
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