Bajaj Auto Finance Q1 net jumps 5 fold

Bajaj Auto Finance reported a jump of fivefold in its net profit for the first quarter ended June 30 to Rs 15.21 crore over the corresponding period a year ago,fueling a surge of 20 per cent in its share price on the Bombay Stock Exchange (BSE).

The company had a net profit of Rs 3.01 crore during the June quarter a year earlier,the company said in a filing to the BSE.

The total income of the auto financing firm rose to Rs 189.56 crore during the April-June quarter of FY’10 from Rs 127.88 crore in the same quarter a year ago.

Shares of Bajaj Auto Finance jumped 20 per cent from its previous close to hit the upper trading limit of Rs 177.35 on the BSE.