Bajaj Finserv Q2 Results: Net profit rises 7.5% to ₹2,244 crore, revenue growth at 11% YoY; stock cracks 7%

Bajaj Finserv on Tuesday reported a consolidated net profit of ₹2,244.10 crore in the second quarter of FY26, recording a rise of 7.5% from ₹2,086.97 crore in the year-ago quarter.

The company’s revenue in Q2FY26 grew 11% to ₹37,402.93 crore from ₹33,703.74 crore, year-on-year (YoY).

Bajaj Finserv is an unregistered Core Investment Company (CIC) and the holding company for the various financial services businesses under the Bajaj group. It participates in the financing business through its 51.32% holding in Bajaj Finance and in the life, general and health insurance businesses through its 74% holding in two unlisted subsidiaries, Bajaj General Insurance Ltd and Bajaj Life Insurance Ltd.

Here’s a look at Q2 results of material subsidiaries of Bajaj Finserv:

Bajaj Finance Q2 Results

Bajaj Finance reported 23% YoY rise in consolidated net profit to ₹4,948 crore in the second quarter ended September 30. The company’s net interest income rose 22% YoY to ₹10,785 crore.

Assets Under Management (AUM) of Bajaj Finance as on 30 September 2025 were ₹462,261 crore as compared with ₹373,924 crore as on 30 September 2024, an increase of 24%.

Gross Non-Performing Assets (NPA) and Net NPA stood at 1.24% and 0.60%, respectively as against 1.06% and 0.46% as on 30 September 2024.

Bajaj General Insurance Q2 Results

Bajaj General Insurance’s net profit in Q2FY26 increased 5% YoY to ₹517 crore. Gross written premium grew by 9% YoY to ₹6,413 crore.

Claim ratio improved to 75.8% from 79.7% YoY due to better claims experience, while Combined ratio stood at 102.3% in Q2FY26. As on 30 September 2025, the company’s solvency ratio was 339%.

Underwriting loss rose to ₹92 crore from ₹48 crore, YoY, attributable to higher acquisition cost on preferred business lines.

AUM, represented by cash and investments as on 30 September 2025 stood at ₹34,974 crore versus ₹31,949 crore as on 30 September 2024, an increase of 9%.

Bajaj Life Insurance Q2 Results

Bajaj Life Insurance’s new business premium in Q2FY26 increased by 25% YoY to ₹4,012 crore, renewal premium jumped 30% YoY to ₹4,354 crore. Consequently, gross written premium during the September quarter increased by 28% YoY to ₹8,366 crore.

The company’s net profit in Q2FY26 declined to ₹13 crore from ₹148 crore, YoY, largely on account of loss of GST input tax credit.

Net Value of New Business (VNB) recorded a growth of 50% YoY at ₹367 crore in Q2FY26, mainly due to product restructuring, favourable product mix and cost rationalisation, the company said.

Solvency ratio stood at a healthy 346% as on 30 September 2025.

The company’s AUM, represented by total investments, increased 7% YoY to ₹132,060 crore as on 30 September 2025.

At 1:55 PM, Bajaj Finserv share price was trading 6.54% lower at ₹1,981.80 apiece on the BSE.

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