Bajaj Finserv reports healthy Q2 profit growth, strategic shifts underway

Bajaj Finserv Limited reported an 8% increase in consolidated profit after tax to INR 2,244 crores for Q2 FY'26, up from INR 2,087 crores in the prior year. Excluding MTM movements from insurance subsidiaries, profit growth reached 12%. Consolidated total income grew by 11% to approximately INR 37,400 crores. The company confirmed receiving necessary approvals for the acquisition of Allianz's stake and name changes for its two insurance companies, now Bajaj General Insurance Limited and Bajaj Life Insurance Limited.

Bajaj General Insurance saw its gross written premium increase by 9% to INR 6,413 crores, with a healthy 13.6% growth excluding a 1/n accounting impact. The profit after tax for Bajaj General increased by 5% to INR 517 crores. Bajaj Life reported VNB of INR 367 crores, a 50% increase year-on-year, with new business margins rising to 17.1%. Bajaj Finance’s AUM grew 24% to INR 4,62,000 crores, and its profit after tax rose 23% to INR 4,948 crores. Bajaj Housing Finance also experienced an 18% increase in profit after tax to INR 643 crores.

Emerging companies also showed progress, with Bajaj Finserv Health achieving 6.2 million health transactions and Bajaj Finserv Asset Management's AUM reaching INR 28,815 crores, crossing INR 30,000 crores as of the reporting date. The company aims for the health business to break even by FY'28.