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Bajaj Finserv Q3 result: profit rises 3%, revenue jumps 10% YoY
Bajaj Finserv reported a 3% YoY rise in consolidated profit for Q3FY25 at ₹2,231 crore. Total revenue increased by 10.34% to ₹32,041.81 crore. Bajaj Finance's profit after tax rose 17% to ₹4,246 crore, while loan losses increased to ₹2,043 crore.
Bajaj Finserv Q3 result: Bajaj Finserv, on Thursday, January 30, reported a 3 per cent year-on-year (YoY) rise in its consolidated profit for the December quarter of the current financial year (Q3FY25). The company's consolidated profit for Q3FY25 stood at ₹2,231 crore, up 3.4 per cent against the profit of ₹2,157.67 crore in the same quarter last year.
Its total revenue from operations for the quarter under review came at ₹32,041.81 crore, up 10.34 per cent YoY against ₹29,038.43 crore in the corresponding quarter last year.
Performance of subsidiaries
Bajaj Finance Q3 result
Consolidated net total income for the quarter rose 26 per cent YoY to nearly ₹11,673 crore against ₹9,298 crore in Q3FY24.
Bajaj Finance's profit after tax (PAT) for the quarter rose 17 per cent YoY to ₹4,246 crore against ₹3,639 crore.
Loan losses and provisions increased to ₹2,043 crore against ₹1,248 crore YoY.
Net interest income (NII) jumped 22.6 per cent YoY to ₹9,382 crore in Q3FY25 from ₹7,655 crore in Q3FY24.
Assets under management (AUM) rose 28 per cent. As on 31 December 2024, Bajaj Finance's AUM stood at ₹3,98,043 crore versus ₹3,10,968 crore as on 31 December 2023. This includes AUM of ₹1,08,314 crore of BHFL, which recorded a growth of 26 per cent over the AUM as on 31 December 2023.
Gross non-performing assets (NPA) and net NPA as of 31 December 2024 stood at 1.12 per cent and 0.48 per cent, respectively, against 0.95 per cent and 0.37 per cent as of 31 December 2023. The company said the provisioning coverage ratio on stage 3 assets is 57 per cent.
Bajaj Allianz General Insurance Company
Profit after tax for Q3FY25 jumped 39 per cent to ₹400 crore versus ₹287 crore in Q3FY24.
Gross written premium for Q3FY25 increased by 46 per cent to ₹6,626 crore versus ₹4,536 crore in the same quarter last year.
The company said claim ratio increased to 77.7 per cent in Q3 versus 72.9 per cent YoY due to elevated claims in health segment.
Bajaj Allianz Life Insurance Company
New business premium for Q3 increased by 8 per cent YoY to ₹2,761 crore versus ₹2,561 crore in the same quarter last year.
Renewal premium increased 24 per cent YoY to ₹3,600 crore against ₹2,903 crore.
Shareholders' profit after tax during Q3 increased by 106 per cent to ₹222 crore versus ₹108 crore last year's same quarter due to higher investment income and reversal of income tax provisions.
Net new business value (NBV), which is the key metric used to measure the profitability of the life insurance business, was ₹254 crore in Q3FY25 against ₹251 crore in Q3FY24.
AUM of the segment, represented by total investments, increased 17 per cent YoY to ₹1,22,023 crore from ₹1,04,737 crore as on Q3FY24.
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Business NewsCompaniesCompany ResultsBajaj Finserv Q3 result: profit rises 3%, revenue jumps 10% YoY
First Published:30 Jan 2025, 01:07 PM IST
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