Bajaj Finance is the top Nifty 50 gainer as, up nearly two percent, on quarterly numbers. The non-banking financial services company (NBFC) on Wednesday reported its January to March quarter (Q4FY23) net profit at Rs 3,158 crore, beating estimates. The profit was up 30 percent from Rs 2,419.51 in the same quarter a year ago. A CNBC-TV18 Poll has pegged the profit figure at Rs 3,110.1 crore.

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Revenue from operations of the financial services firm grew 24 percent to Rs 11,359.59 crore from Rs 8,626.06 crore in the year-ago quarter.

The NII or net interest income for the quarter under review rose 28 percent to Rs 7,771 crore as against Rs 6,061 crore in the same period a year ago.

Operating expenses to the net interest income were at 34.1 percent in the March quarter as compared to 34.5 percent in Q4FY22.

The company's board has recommended a dividend of Rs 30 per share or 1500 percent of face value of Rs 2 each for the financial year ended 31 March, 2023.

The NBFC major had announced its fourth quarter results after market hours on today.

Shares of Bajaj Finance Ltd settled 0.30 percent lower at Rs 6,057.00 apiece on the NSE in Wednesday's trade ahead of its March quarter results. The stock touched a 52-week high of Rs 7,777 on September 22, 2022 and 52-week low of Rs 5,235.6 on June 17, 2022.

The stock has an average price target of Rs 7,731, according to data available data with Trendlyne, implying an upside potential of 27.92 percent.

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First Published:Apr 26, 2023 5:54 PM IST