Bajaj Finserv (BAJAJFINSV) Q2 24/25 earnings summary

Executive summary

• Consolidated revenue for Q2 FY25 grew 30% year-over-year to ₹33,703 crore, with half-year growth at 32% and profit after tax up 8% to ₹2,087 crore; total comprehensive income for H1 FY25 was ₹10,042.67 crore.

• All major subsidiaries, including Bajaj Finance, Bajaj Housing Finance, BAGIC, and BALIC, reported growth in key metrics, with notable expansion in AUM and customer franchise.

• The group continues to focus on digital transformation, risk management, and ESG initiatives, with strong solvency and capital adequacy across businesses.

Financial highlights

• Q2 FY25 consolidated revenue reached ₹33,703 crore, up 30% year-over-year; H1 FY25 revenue at ₹65,183.88 crore.

• Q2 FY25 profit after tax was ₹2,087 crore, up 8% year-over-year; adjusted PAT growth at 11% after shareholding changes and exceptional items.

• Surplus funds increased 28% year-over-year to ₹3,546 crore.

• BAGIC's gross premium declined 20% due to timing of government health business, but core business grew 11% versus industry’s 4%.

• BALIC individual retail new business grew 34% year-over-year; new business value up 3%, gross written premium up 23%, AUM up 25%.

• Bajaj Finance AUM grew 29%, total income up 24%, profit after tax up 13%, gross NPA at 1.06%, net NPA at 0.46%.

• Bajaj Housing Finance AUM up 26%, net total income up 18%, profit after tax up 21%, net NPA at 0.12%.

• Stock broking revenue up 78%, profit after tax up 185%.

• Marketplace and tech services revenue up 30%, but profit after tax declined to ₹6 crore.

• Health tech revenue at ₹233 crore, with negative profit after tax of ₹32 crore due to recent acquisition.

Outlook and guidance

• Expectation of stabilization in government health business in Q3.

• Continued focus on profitable growth, digital innovation, risk management, and maintaining high ROE in insurance.

• Product mix in life insurance expected to rebalance towards traditional products as market conditions evolve.

• No major capital requirements anticipated for marketplace business; moderate investments planned for health and AMC segments.