Bajaj Finserv reported an 8% year-on-year increase in Q2 FY25 net profit, reaching Rs 2,087 crore, driven by higher interest income and insurance premiums. Total revenue surged 29% to Rs 33,704 crore, but profit growth was restrained by rising finance costs and claims expenses.
The company’s results were bolstered by a significant net gain of Rs 1,650 crore from changes in the fair value of investments, a sharp increase from Rs 102 crore in the same period last year.
Group firm Bajaj Finance reported a 13% rise in its profit at Rs 4,000 crore with an addition of 3.98 million new customers and booking of 9.69 million new loans. Bajaj Housing Finance contributed to the growth with its profits surging 21% year-on-year.
The insurance verticals had a good run, with Bajaj Allianz General Insurance rising 6% YoY to Rs 494 crore and Bajaj Allianz Life Insurance NEW Business Value went up by 3%. On the BSE, shares of Bajaj Finserv gained as much as 2.24 per cent to Rs 1,761.80 after announcing results.
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Source: Moneycontrol
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