Bajaj Finserv's first quarter profit grew 15 percent for the first quarter of financial year 2016-17, beating Bloomberg's estimate of Rs 503 crore.
Profit grew to Rs 537.4 crore from Rs 466.9 crore in the same quarter the previous year, according to the company's filing on the Bombay Stock Exchange.
Revenue grew 29 percent to Rs 2,731 crore compared to Rs 2,113 crore clocked in the same quarter last year.
Net non performing assets went up to 0.41 percent from 0.28 percent on a quarter-on-quarter basis. The company's assets under management grew 39 percent to Rs 49,608 crore in the first quarter compared to Rs 35,557 crore in the corresponding quarter last year.
Finserv's loan providing subsidiary, Bajaj Finance, reported a quarterly profit of Rs 424 crore growing 54 percent from the same quarter last year.
Share of Bajaj Finance jumped 7.5 percent intraday. Bajaj Finserv rose 5.4 percent to Rs 2,739.6 per share after results were announced.
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