Bajaj Finserv Limited (BFS) has reported robust financial results for the first quarter, with consolidated profit after tax (PAT) growing by 30% year-over-year to reach ₹2,789.00 crores. This marks an all-time high quarterly PAT for the company.

Key Highlights

• Consolidated total income grew by 13% to ₹35,451.00 crores
• Bajaj Allianz General Insurance Company (BAGIC) saw a 9% growth in Gross Written Premium (GWP) to ₹5,202.00 crores
• Bajaj Allianz Life Insurance Company (BALIC) reported a 9% increase in GWP to ₹5,479.00 crores
• Bajaj Finance Limited (BFL) achieved a 21% growth in consolidated net total income to ₹12,610.00 crores

General Insurance Performance (BAGIC)

• Combined ratio improved slightly to 103.6% from 103.7% in the same quarter last year
• PAT grew by 15% to ₹660.00 crores
• Assets Under Management (AUM) increased by 11% to ₹35,199.00 crores
• Maintained strong solvency ratio at 334%

Life Insurance Performance (BALIC)

• Value of New Business (VNB) increased by 39% to ₹145.00 crores
• New Business Margin (NBM) expanded to 11.1% from 6.9% in the previous year's quarter
• PAT grew significantly by 76% to ₹171.00 crores
• Retail protection business grew by 53%
• Solvency ratio remained healthy at 343%

Lending Business Performance

Bajaj Finance Limited

• AUM grew by 25% to ₹4,41,450.00 crores
• Added 4.69 million new customers
• PAT increased by 22% to ₹4,765.00 crores

Bajaj Housing Finance Limited

• AUM grew by 24%
• PAT increased by 21% to ₹583.00 crores

Other Business Updates

• Bajaj Finserv Health conducted 5.8 million health transactions, up from 2.05 million in the same period last year
• Bajaj Markets added 4 new partners, bringing the total unique partner count to 100
• Bajaj Finserv Asset Management Company's AUM grew by 107% year-over-year to ₹25,011.00 crores

The company's management highlighted their focus on sustainable and profitable growth across all business segments. They emphasized the importance of maintaining a balanced product mix, improving operational efficiencies, and leveraging technology to enhance customer experience.

Despite some challenges in certain segments, such as the group protection business in life insurance, Bajaj Finserv remains optimistic about its growth prospects. The company continues to invest in its digital capabilities and expand its distribution network to capture market opportunities across its diverse business portfolio.

Bajaj Finserv Limited (BFS) has reported a robust financial performance for the first quarter, with consolidated profit after tax (PAT) surging 30% year-on-year to ₹2,789.00 crore. The company's total revenue grew by 13% to reach ₹35,451.00 crore for the quarter ended June 30.

Key Financial Highlights

• Consolidated PAT: ₹2,789.00 crore (up 30% YoY)
• Total Revenue: ₹35,451.00 crore (up 13% YoY)
• Profit Before Tax (PBT): 21% growth YoY

Segment-wise Performance

Bajaj Allianz General Insurance Company (BAGIC)

BAGIC reported strong growth in core business lines such as commercial (fire, marine, engineering & liability), motor, and retail health, outpacing industry growth rates.

Bajaj Allianz Life Insurance Company (BALIC)

BALIC's focus on sustainable and profitable growth, backed by changes in product structures and cost rationalization, has yielded positive results.

Bajaj Finance Limited (BFL)

BFL continued its strong performance with robust growth in business volumes, AUM, and profitability.

Bajaj Housing Finance Limited (BHFL)

BHFL maintained healthy asset quality with Gross Non-Performing Assets (GNPA) at 0.30% and Net Non-Performing Assets (NNPA) at 0.13%.

Other Business Updates

• Bajaj Finserv Health Limited conducted 5.8 million health transactions in Q1, up from 2.05 million in the same period last year.
• Bajaj Markets added 4 new partners, bringing the total unique partner count to 100.
• Bajaj Finserv Asset Management ended the quarter with an Assets Under Management (AUM) of ₹25,011.00 crore, up 23% from the previous quarter and 107% year-on-year.

Allianz Stake Acquisition Update

Bajaj Finserv has received approvals from the Competition Commission of India and the Insurance Regulatory and Development Authority of India for acquiring Allianz SE's 26% stake in both BAGIC and BALIC. The initial tranche of a minimum 6.1% stake is to be completed within six months of IRDAI approval.

Ramandeep Singh Sahni, CFO of Bajaj Finserv, commented on the results, stating, "We are pleased with our strong start to the fiscal year, with robust growth across our key business segments. Our focus on sustainable and profitable growth, coupled with our diversified business model, continues to drive our performance."

As Bajaj Finserv continues to strengthen its position in the financial services sector, the company remains committed to delivering value to its shareholders while maintaining its focus on customer-centric innovations and digital transformation.