Bajaj Finserv Q2 Results: Net profit grows 8% YoY to ₹2,087 crore, total income rises 29.5%

Total income came in at ₹33,703.74 crore, up 29.5% as compared to ₹26,022.66 crore registered in the September 2023 quarter. 

The company's basic earnings per share stood at ₹13.1 against ₹12.1 recorded in the September 2023 quarter. 

The company said that the net new business value (NBV) for life insurance grew 3% YoY to ₹245 crore. 

Bajaj Finserv continues to grow its emerging businesses, which include Bajaj Finserv Health and Bajaj Finserv Direct. Bajaj Finserv Asset Management and Bajaj Finserv Ventures. Losses from these businesses for Q2 FY25 were ₹90 crore, as envisaged.

Bajaj Finserv Asset Management recorded assets under management (AUM) of ₹16,293 crore as of September 30, 2024, the earnings release added. 

The company further said that in the previous year, Bajaj Finance, the subsidiary of Bajaj Finserv (BFS), had raised capital through qualified institution placement (OIP). Post this, BFS shareholding in Bajaj Finance is reduced to 51.34% from 52.49%.

In Q2 FY25, pursuant to the IPO of Bajaj Housing Finance (BHFL), BFL's shareholding stands reduced from 100% to 88.75% in BHFL.

Together, these items reduced the YoY% change in the consolidated profit after tax by 3% for Q2 FY25.

At 3:08 pm, shares of Bajaj Finserv were trading at ₹1,740.35 apiece on the BSE, up 1.00%. 

The Q2 results were announced during the market hours.