Bajaj Finserv Q2 Results: Profit Up by 8.2 per cent, Revenue Jumps 29.5 per cent YoY
The company’s profit after tax rose by 13 per cent to Rs 4,000 crore, up from Rs 3,551 crore in the corresponding quarter of the previous year.
Bajaj Finserv Ltd (BFL) has announced its fiscal second-quarter results for FY25, reporting an 8.2 per cent increase in net profit to Rs 2,086.97 crore, compared to Rs 1,928.96 crore in Q2FY24. The company's total income for the quarter rose by 29.5 per cent year-on-year (YoY), reaching Rs 33,703.74 crore, up from Rs 26,022.66 crore in the same period last year.
The diversified financial services company continues to expand its portfolio, with its asset management business reporting assets under management (AUM) of Rs 16,293 crore as of September 30, 2024. Bajaj Finserv attributed its solid performance across segments to a careful balance between growth and risk management.
Bajaj Finance Limited (BFL)
Bajaj Finance Limited recorded a 24 per cent YoY increase in net total income, reaching Rs 10,946 crore in Q2FY25 compared to Rs 8,847 crore in Q2FY24. The company’s profit after tax rose by 13 per cent to Rs 4,000 crore, up from Rs 3,551 crore in the corresponding quarter of the previous year. AUM grew by 29 per cent to Rs 373,924 crore, which includes Rs 102,569 crore from its subsidiary, Bajaj Housing Finance Ltd. The company's gross NPA and net NPA stood at 1.06 per cent and 0.46 per cent, respectively, as of September 30, 2024.
Bajaj Allianz General Insurance Company (BAGIC)
BAGIC posted a 6 per cent YoY increase in profit after tax, reaching Rs 494 crore compared to Rs 468 crore in Q2FY24. The gross written premium declined by 20 per cent YoY to Rs 5,871 crore due to the spillover of government health insurance business into October. Excluding tender-driven crop and government health insurance premiums, BAGIC’s gross premium grew by 11 per cent. AUM for the insurance business rose by 8 per cent to Rs 31,949 crore.
DSIJ’s ‘Flash News Investment' weekly Newsletter recommends profit-making ideas for you based on fundamental and technical analysis. If this interests you, do download the service details here.
Bajaj Allianz Life Insurance Company (BALIC)
BALIC’s new business premium for Q2FY25 rose by 14 per cent to Rs 3,202 crore, while renewal premium increased by 33 per cent YoY to Rs 3,342 crore. Despite these gains, BALIC reported a decrease in profit after tax, which fell to Rs 148 crore, down from Rs 193 crore in Q2FY24, due to new business strain, higher expenses, and changes in product mix. The company’s AUM grew by 25 per cent, reaching Rs 123,178 crore as of September 30, 2024.
Shares of Bajaj Finserv closed at Rs 1,741.95, gaining 1.12 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.