Bajaj Finserv Ltd's Q1FY20 consolidated net profit rises 2.3% yoy to Rs845cr : Misses Estimates

The company’s consolidated total income stood at Rs12,272cr, down 39.9% yoy

July 26, 2019 7:42 IST | India Infoline Research Team

Bajaj Finserv Ltd Q1FY20

Consolidated Results Q1FY20: (Rs. in cr)

Q1FY20 YoY (%)
Revenue 12,272 39.9
Net Profit (adjusted) 845 2.3

Bajaj Finserv, for Q1FY20, has reported consolidated total income of Rs12,272cr as compared to Rs8,771cr in the same period last year, which has increased 39.9% yoy. For Q1FY20 it has posted a 2.37% yoy rise in consolidated profit at Rs845cras against Rs826cr in the corresponding quarter last year. The profit is below consensus estimates.
  • Gross written premium for Q1FY20 increased by 17% to Rs2,843cr vs. Rs2,429cr in Q1 FY19.
  • Gross written premium from core business (excluding crop) for Q1FY20 increased by 13% to Rs2,724cr vs. Rs2,419cr in Q1FY19.
  • Net earned premium for Q1FY20 stood at Rs1,946cr vs. Rs1,612cr in Q1FY19, an increase of 21%.
  • Underwriting profit for Q1FY20 stood at Rs9cr vs. Rs128cr in Q1FY19 primarily due to higher claims which included provisions for Rs30cr of claims arising out of the cyclone Fani.
  • Claim ratio stood at 72.8% in Q1FY20 vs. 65.7% in Q1FY19.
  • Combined ratio stood at 103.1% in Q1FY20 vs. 90.2% in Q1FY19.
  • As on June 30, 2019, solvency ratio stood at 249%, which is well above the minimum regulatory requirement of 150%.

Technical View:

Bajaj Finserv Ltd ended at Rs. 6,783, down by 276.9 points or 3.92% from its previous closing of Rs. 7,059.90 on the BSE.
The scrip opened at Rs. 7,076.35 and touched a high and low of Rs. 7,169.60 and Rs. 6,758.45 respectively. A total of 11,30,387 (NSE+BSE) shares were traded on the counter. The stock traded above its 50 DMA.

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