Bajaj Finserv (BAJAJFINSV) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 consolidated total income rose to ₹31,480 crore, up 35% year-over-year, with profit after tax at ₹2,138 crore, up 10% sequentially and 8% year-over-year excluding mark-to-market gains; some sources report PAT at ₹4,209 crore.

• All major businesses—insurance, lending, and emerging digital platforms—delivered strong double-digit growth, with insurance subsidiaries BAGIC and BALIC achieving market-leading expansion.

• One-time items, including changes in shareholding and deferred tax reversals, impacted consolidated PAT growth by 7% year-over-year.

• Emerging businesses and digital platforms continued to scale with planned investments, though losses increased as they expanded.

• Total comprehensive income for the quarter stood at ₹4,722 crore.

Financial highlights

• Consolidated total income rose 35% to ₹31,480 crore; consolidated profit before tax for Q1 FY25 was ₹5,968 crore.

• BAGIC gross written premium grew 24% to ₹4,761 crore; PAT up 39% to ₹576 crore; ROE at 21.3%.

• BALIC gross written premium up 24% to ₹5,018 crore; individual rated new business up 26%; PAT down 37% to ₹97 crore due to new business strain.

• BFL consolidated net total income up 34%, PAT up 14%, ROE at 19.86%; AUM grew 31% to ₹3,54,192 crore.

• BHFL AUM up 31% to ₹97,071 crore; PAT up 5% to ₹483 crore.

Outlook and guidance

• Management expects some one-time impacts on PAT to not recur in future quarters.

• BALIC margins may see a temporary pause due to regulatory changes but are expected to expand in the medium term.

• Focus remains on scaling digital and health businesses, with recent acquisition of Vidal Healthcare.

• BFL and BHFL expect improved collection efficiencies and continued portfolio pruning in H2.

• Continued investment in technology, analytics, and customer experience across all segments.