Q2 growth stays strong; management flags rate and commission margin risks
BAJAJHFL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.1 pts more than Nifty Midcap 150 and 1.2 pts more than its Housing Finance Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Loan assets were INR 1.58 lakh crore and disbursements INR 19,900 crore, both up 25% year on year. Profit after tax rose 18% to INR 757 crore; net interest margin eased 2 bps to 3.7%, while gross bad loans held at 29 bps. Management kept 21% to 23% asset growth guidance, said significantly higher developer loan approvals should aid Q3 and Q4 growth, and warned of pricing pressure after rate rises and possible insurance commission rule changes.
Positive for growth and asset quality, but rate-driven pricing pressure and commission-rule risks may limit margin and profit upside.