Bajaj Finserv Q2 Results: Cons PAT rises 8% YoY to Rs 2,087 crore, revenue jumps 30%

Bajaj Finserv on Wednesday reported an 8% jump in its consolidated net profit for the quarter ended September 2024 to Rs 2,087 crore versus Rs 1,929 crore posted in the year-ago period.

The revenue from operations in the reported quarter stood at Rs 33,704 crore, up 30% over Rs 26,023 crore posted by the company in the corresponding quarter of the previous financial year.

The company's general insurance segment logged a profit after tax (PAT) of Rs 494 crore in the reported quarter versus Rs 468 crore in the year-ago period, recording a 6% YoY growth.


“Q2 FY25 was a strong quarter for growth across all our major businesses. Risk metrics, however, varied across segments and our companies focused on balancing risk with growth," a company statement said.

The quarterly earnings were announced during market hours and the stock hit 3% in the day's trade at Rs 1,774.40 on the NSE.

Bajaj Finance recorded an increase in the customer franchise to 3.98 million and the number of new loans booked was 9.69 million in Q2FY25. Its quarterly consolidated profit after tax increased by 13%, while its subsidiary, Bajaj Housing Finance Limited recorded growth of 21% in profit after tax.

Bajaj Allianz General Insurance Company's (BAGIC's) gross written premium stood at Rs 5,871 crore in Q2FY25; excluding bulky tender-driven crop and government health business, growth was at 11% --- better than the general insurance industry. It continued to deliver a superior combined ratio as compared to the industry, the company filing said.

Bajaj Allianz Life Insurance Company (BALIC) continued to record market-beating growth of 34% in individual-rated new business premiums with improved market share by 70 bps amongst private industry players.

Consolidated total income for the six months ended September 30, 2024, stood at Rs 65,184 crore versus Rs 49,303 crore in the year-ago period. This was a 32% YoY growth. Consolidated PAT in H1FY25 stood at Rs 4,225 crore versus Rs 3,872 crore in H1FY24. It was a 9% gain.