Bajaj Finserv, the holding company for the various financial services businesses under the Bajaj group, announced its December-quarter results on Wednesday, February 4, reporting a consolidated net profit of ₹2,229 crore, largely unchanged from ₹2,231 crore posted in the year-ago quarter.
The company’s consolidated total income rose to ₹39,708 crore, marking a 24% increase over ₹32,042 crore reported in the year-ago quarter.
Despite the higher total income, the bottom line was impacted by elevated provisions, including an accelerated expected credit loss (ECL) charge of ₹1,406 crore and a one-time gratuity-related expense of ₹379 crore arising from the implementation of new labour codes.
The accelerated ECL provision had a net impact of ₹540 crore on Bajaj Finserv’s consolidated profit, while the impact from the new labour codes stood at around ₹167 crore, according to the company’s earnings report.
"During the quarter. to enhance balance sheet resilience, Bajaj Finance has further strengthened its provisioning framework by implementing a minimum Loss Given Default (LGD) floor across all businesses. Accordingly, an accelerated ECL provision of ₹1,406 crore was made. Additionally, BFS and its subsidiaries also accounted for one-time charge of 379 crore towards New Labour Codes released on 21 November 2025," the company said in its earnings' filing.
Excluding the impact of these two items, consolidated profit after tax stood at ₹2,936 crore in Q3 FY26, marking a 32% increase compared with the corresponding quarter last year.
Performance of Bajaj Finserv’s group companies in Q3
Among the group companies, Bajaj Finance recorded an increase of 4.76 million in its customer franchise and booked 13.90 million new loans in Q3 FY26.
The company’s Assets Under Management (AUM) stood at ₹4,84,477 crore as of December 31, 2025, compared with ₹3,98,043 crore as of December 31, 2024, marking a 22% increase. This includes AUM of ₹1,33,412 crore at BHFL, which recorded a 23% growth over its AUM as of December 31, 2024.
In the insurance segment, Bajaj Allianz General Insurance reported a 12% year-on-year growth in gross written premium to ₹7,389 crore in Q3 FY26. Excluding bulky, tender-driven crop and government health business, growth remained strong at 17%. The combined ratio for Q3 FY26 stood at a healthy 97.9%.
In the emerging businesses segment, Bajaj Finserv Asset Management reported Assets Under Management (AUM) of ₹30,250 crore as of December 31, 2025.
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