Bajaj Finserv Q2 Results: Profit Up by 8%, Revenue Soars by 30%

Bajaj Finserv announced its Q2 results for the quarter ended September 2024, reporting an 8% rise in consolidated net profit to ₹2,087 crore, compared to ₹1,929 crore in the same quarter last year. The company’s revenue from operations surged by 30%, reaching ₹33,704 crore, up from ₹26,023 crore in the year-ago period. Bajaj Finserv Asset Management reported assets under management (AUM) totaling ₹16,293 crore as of September 30, 2024.

Quick Insights:

• Revenue: ₹33,704 crore, up by 30% YoY.
• Net Profit: ₹2,087 crore, increased by 8% compared to last year.
• Segment Performance: The general insurance segment recorded a 6% growth in profit, with a PAT of ₹494 crore compared to ₹468 crore last year.
• Management's Take: Strong growth across all major businesses, with varied risk metrics across segments. Outlook remains positive. 
• Stock Reaction: Bajaj Finserv Shares were up by 1%, closing at ₹1,740 on the NSE. Q2 results were announced on Wednesday during market hours. 

Management Commentary:

Bajaj Finserv’s management highlighted robust growth in all major segments, noting a strategic focus on balancing risk with growth across different business lines. The company said, “Q2 FY25 was a strong quarter for growth across all our major businesses. Risk metrics, however, varied across segments and our companies focused on balancing risk with growth.”

Stock Market Reaction:

Following the announcement of the quarterly results, the stock rose by around 3% during trading hours, reflecting strong investor sentiment toward the company’s performance. On Wednesday, the company’s shares gained around 1% to settle at ₹1,740 per share on the BSE.

Also check List of Bajaj Group Stocks

About Bajaj Finserv:

Bajaj Finserv is an NBFC in India that acts as a holding entity for the Bajaj Group’s financial services businesses. The company continues to see strong growth across its subsidiaries, including Bajaj Finance, Bajaj Allianz General Insurance, and Bajaj Allianz Life Insurance. The company mentioned its emerging businesses, such as Bajaj Finserv Health and Bajaj Finserv Asset Management continue to grow. The company also reported that its consolidated total income for H1FY25 rose 32% YoY to ₹65,184 crore