Pune, India | January 30, 2025 – Bajaj Finserv Limited (BFS) (NSE: BAJAJFINSV, BSE: 532978) reported its unaudited financial results for the third quarter (Q3 FY25) and the nine-month period ending December 31, 2024. The company showcased strong financial performance, driven by growth across its finance and insurance businesses.
Key Financial Highlights (Q3 FY25 vs Q3 FY24)
- Total Consolidated Income: ₹32,042 crore, up 10% YoY.
- Consolidated Profit After Tax (PAT): ₹2,231 crore, up 3% YoY.
- Bajaj Finance Consolidated PAT: ₹4,246 crore, up 17% YoY.
- General Insurance PAT: ₹400 crore, up 39% YoY.
- Life Insurance Net New Business Value (NBV): ₹254 crore, up 1% YoY.
9M FY25 Performance (vs 9M FY24)
- Total Consolidated Income: ₹97,226 crore, up 24% YoY.
- Consolidated PAT: ₹6,456 crore, up 7% YoY.
- Bajaj Finance Consolidated PAT: ₹12,158 crore, up 14% YoY.
- General Insurance PAT: ₹1,470 crore, up 26% YoY.
- Life Insurance NBV: ₹603 crore, up 4% YoY.
Segment-Wise Performance
Bajaj Finance Limited (BFL) – Strong AUM Growth
- Net Total Income: ₹11,673 crore, up 26% YoY.
- Profit After Tax: ₹4,246 crore, up 17% YoY.
- Assets Under Management (AUM): ₹398,043 crore, up 28% YoY.
- Gross NPA & Net NPA: 1.12% & 0.48%, respectively.
- Capital Adequacy Ratio: 21.56%.
Bajaj Allianz General Insurance Company Limited (BAGIC)
- Gross Written Premium: ₹6,626 crore, up 46% YoY.
- Net Earned Premium: ₹2,403 crore.
- Claims Ratio: 77.7% (up from 72.9% due to health segment claims).
- Combined Ratio: 101.1% (Improved to 100.2% excluding certain adjustments).
- Solvency Ratio: 300% (well above regulatory minimum of 150%).
Bajaj Allianz Life Insurance Company Limited (BALIC)
- Gross Written Premium: ₹6,361 crore, up 16% YoY.
- New Business Premium: ₹2,761 crore, up 8% YoY.
- Renewal Premium: ₹3,600 crore, up 24% YoY.
- Profit After Tax: ₹222 crore, up 106% YoY.
- Solvency Ratio: 369%.
Emerging Businesses & Asset Management
- Bajaj Finserv Asset Management AUM: ₹17,434 crore (up from ₹16,294 crore in Q2 FY25).
- Emerging businesses (Bajaj Finserv Health, Direct, Ventures) reported losses of ₹95 crore, down from ₹105 crore in Q3 FY24, in line with planned investments.
Key Corporate Developments
Senior Management Changes
- New CFO Appointment: Ramandeep Singh Sahni appointed as Chief Financial Officer (CFO) effective February 1, 2025.
- Outgoing CFO: S. Sreenivasan to transition to President (Insurance & Special Projects).
Strategic Acquisitions
- Bajaj Finserv Health acquired Vidal Healthcare Services Pvt. Ltd. for ₹310.70 crore, including subsidiaries Vidal Health Insurance TPA Pvt. Ltd. and VH Medcare Pvt. Ltd.
Management Commentary
Chairman & Managing Director Sanjiv Bajaj stated:"Bajaj Finserv continues its growth momentum, achieving a 10% increase in revenue and 3% rise in profits. Our financing and insurance businesses remain strong, while emerging businesses are scaling as per our strategic roadmap."
Outlook & Market Positioning
- Finance Business: Continued focus on expanding the retail lending portfolio with a diversified AUM mix.
- Insurance Business: Strengthening market leadership in general and life insurance segments.
- Emerging Businesses: Investments in health tech, asset management, and digital finance will contribute to future growth.