Baja Finserv Q1 results: Net profit up 10% at ₹2,138 cr

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Bajaj Finserv Limited (BFS) reported a 10 per cent increase in consolidated net profit at ₹2,138 crore in the first quarter (Q1) of FY25 against ₹1,943 crore in the year ago period.

BFS is an unregistered Core Investment Company (CIC) and the holding company for the various financial services businesses under the Bajaj group.

Net profit

The NBFC participates in the financing business through its 51.34 per cent holding in Bajaj Finance Ltd (BFL) and in the life, general and health insurance businesses through its 74 per cent holding in two unlisted subsidiaries. Bajaj Allianz General Insurance Company Ltd (BAGIC) and Bajaj Allianz Life Insurance Company Ltd (BALIC).

BFL reported a 14 per cent year-on-year (y-o-y) increase in consolidated net profit at ₹3,912 crore (₹3,437 crore). Its assets under management (AUM), including AUM of 100 per cent subsidiary Bajaj Housing Finance Ltd, was up 31 per cent at ₹3,54,192 crore.

BAGIC’s net profit rose 39 per cent y-o-y to ₹576 crore (₹415 crore). Gross written premium increased 24 per cent y-o-y to ₹4,761 crore (₹3,834 crore). Claim ratio improved to 77.1 per cent from 74.3 per cent in the year ago quarter.

Shares

BALIC reported a 37 per cent y-o-y decline in net profit at ₹97 crore (₹155 crore). Gross written premium, including new business and renewal, increased 24 per cent y-o-y to ₹5,018 crore (₹4,058 crore).

BFS’s shares closed at ₹1,578.45 per share, down 2.43 per cent over the previous close on BSE.