Bajaj Finserv Q1 FY 27: Net Profit Rises 12.3% To ₹3,132 Crore, Board Clears Reinsurance Plan

Bajaj Finserv’s net profit increased to ₹3,132 crore from ₹2,789 crore for the June quarter, while total income climbed 19.1% to ₹42,037 crore from ₹35,300 crore. It reported a 12.3% year-on-year (YoY) rise in consolidated net profit against the same period last year, helped by steady growth across its lending, insurance, and asset management businesses.

Along with its quarterly results, the company said its board had approved plans to enter the reinsurance business, subject to approvals from the Insurance Regulatory and Development Authority of India (IRDAI) and other regulators.

Following the earnings announcement, Bajaj Finserv shares gained more than 5.95% to trade at ₹2,023.00 on the National Stock Exchange (NSE) at 2:40 PM.

What Drove Bajaj Finserv's Q1 FY27 Results?

The group's lending businesses continued to expand during the quarter. Bajaj Finance added 5.1 million new customers and booked 16.13 million fresh loans.

Consolidated assets under management (AUM) rose 24% YoY to ₹5.47 lakh crore as of June 30. Bajaj Housing Finance also reported 24% growth in AUM, taking its loan book to ₹1.50 lakh crore.

The company's asset quality also improved. Gross non-performing assets (GNPA) declined to 0.96% from 1.03% a year ago, while net NPA (NNPA) eased to 0.39% from 0.50%. Bajaj Finserv's capital adequacy ratio stood at 20.9%, with Tier-I capital at 20.01%.

Board Approves Reinsurance Business Plan And ESOP

The board approved pursuing a reinsurance business through a new subsidiary, subject to regulatory clearances.

The board also approved the issue of 15.11 lakh equity shares to the Bajaj Finserv ESOP Trust under its employee stock option scheme. Each share has a face value of ₹1 and will be allotted at the applicable grant price when employees exercise their stock options.

Elsewhere, Bajaj Allianz Life posted an 87% jump in the value of new business during the quarter. Bajaj Asset Management's average quarterly assets under management (AUM) stood at ₹33,027 crore. The company said its newer businesses, including health, direct distribution, asset management and alternative investment management, continued to grow steadily.

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