Bajaj Finance vs Jio Financial: Which stock should you buy after Q4 results?
Bajaj Finance and Jio Financial came out mixed, further complicating the question of which stock one should buy between these two. Bajaj Finance reported a decent double-digit rise in profit and interest income year-on-year. Jio Financial, on the other hand, reported a single-digit sequential rise in profit and interest income.
Jio Financial debuted on bourses in August last year, so its Q4 numbers were not comparable year-on-year. Bajaj Finance reported its March quarter earnings on Thursday, April 25. Its share price plunged 7.73 per cent to ₹6,729.85 the following day.
Also Read: Why Bajaj Finance shares have tanked 8% despite double-digit YoY growth in PAT, NII in Q4? Jio Financial reported its Q4 earnings on Friday, April 19. In the subsequent sessions on April 22 and 23, the stock rose 3.54 per cent and 1.27 per cent. However, it witnessed profit booking thereafter and closed in the red in the next three days.
Still, for the week, Jio Financial share price climbed over 3 per cent. Also Read: Jio Financial Services stock gains by over 73% in 6 months; what's driving the rally? Jio Financial Services reported a 6 per cent quarter-on-quarter (QoQ) jump in Q4 consolidated net profit to ₹310.6 crore. The revenue from operations increased 1 per cent QoQ to ₹418.1 crore from ₹413.6 crore in Q3FY24.
Its net interest income (NII) rose 4.5 per cent QoQ from ₹269 crore in Q3FY24 to ₹281 crore in Q4FY24. Pre-provisioning operating profit for the quarter under review inched up to ₹317 crore against ₹315 crore QoQ. Also Read: Jio Financial Services Q4 results: Net profit jumps 6% QoQ to ₹310.6 crore, net interest income at ₹280.7 crore Bajaj Finance reported a 21 per cent year-on-year (YoY) rise in consolidated net profit to
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