Bajaj Finserv (BAJAJFINSV) Q3 24/25 earnings summary

Executive summary

• Consolidated total income for Q3 FY25 rose 10% year-over-year to ₹32,042 crore, with profit after tax up 3% to ₹2,231 crore; nine-month revenue reached ₹97,226 crore and PAT was ₹6,456 crore.

• Adjusted profit after tax, excluding unrealized MTM gains/losses and including realized equity gains, grew 23% for the quarter and 13% for the nine-month period.

• Insurance subsidiaries delivered strong profitability, with BAGIC's PAT up 39% and BALIC's up 106% (aided by a tax reversal).

• Lending businesses reported robust growth, with consolidated net income up 26%, PAT up to ₹4,300 crore, and ROE at 19.08%.

• Notable regulatory and accounting changes impacted reported insurance metrics but not underlying profitability.

Financial highlights

• BAGIC gross premium grew 46% year-over-year to ₹6,626 crore; combined ratio improved to 101.1%.

• BALIC gross return premium increased 16% to ₹6,361 crore; new business value up 1% to ₹254 crore.

• Bajaj Finance Q3 PAT up 18% year-over-year; AUM up 28% to ₹3,98,043 crore.

• Bajaj Housing Finance Q3 PAT up 25% year-over-year; AUM up 26% to ₹1,08,314 crore.

• Bajaj Finserv Health completed 2.3 million health transactions in Q3; Bajaj Markets attracted 8.2 million digital customers.

Outlook and guidance

• Management expects continued focus on profitable growth, balanced product mix, and superior risk selection in insurance.

• BALIC anticipates a multi-year journey of improved profitability, with agency channel growth expected to recover in coming quarters.

• Lending businesses aim to further reduce loan losses and maintain strong ROA and capital ratios.

• Continued investment in technology, digital platforms, and customer experience.

• Emphasis on risk management, capital efficiency, and regulatory compliance.