Bajaj Finserv Q2 cons PAT jumps 8% YoY to Rs 2,087 crore, revenue up 30%

Bajaj Finserv on Wednesday reported an 8% jump in its consolidated net profit for the quarter ended September 2024 to Rs 2,087 crore versus Rs 1,929 crore posted in the year-ago period.

The revenue from operations in the reported quarter stood at Rs 33,704 crore, up 30% over Rs 26,023 crore posted by the company in the corresponding quarter of the previous financial year.

The company's general insurance segment logged a profit after tax (PAT) of Rs 494 crore in the reported quarter versus Rs 468 crore in the year-ago period, recording a 6% YoY growth.

“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," a company statement said.

Bajaj Finance recorded an increase in the customer franchise to 3.98 million and the number of new loans booked was 9.69 million in Q2FY25. Its quarterly consolidated profit after tax increased by 13%, while its subsidiary, Bajaj Housing Finance Limited recorded growth of 21% in profit after tax.