Bajaj Finserv Ltd's Q4FY18 consolidated net profit rises 36.05% yoy to Rs1,113.83cr : In-line with Estimates

India Infoline Research Team | May 17, 2018 17:41 IST

The company’s consolidated total income stood at Rs8,829.35cr, up 25.41% yoy and 15.18% qoq.

Bajaj Finserv Ltd Q4FY18

Consolidated Results Q4FY18: (Rs. in cr)

Q4FY18 YoY (%)
Revenue 8,829.35 25.4
Net Profit (adjusted) 1,113.83 36.1

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Reco. Price

5348

Last updated on

04-May-2018

Bajaj Finserv Ltd's consolidated revenue for the quarter came in at Rs8,829.35cr, up by 25.4% yoy. The premium and other operating income from insurance business increased by 18.3% yoy to Rs5,147.91cr in Q4FY18. The claims incurred pertaining to insurance business increased by 26.4% yoy to Rs3,537.37cr in Q4FY18. The consolidated net profit after tax for the quarter came in at Rs1,113.83cr, which increased by 36% yoy. The revenue and the net profit of the company for the quarter were in-line with the street estimates.

• The profit after tax for Bajaj Finance Ltd (~54.99% stake) increased by 61% yoy to Rs721cr and for Bajaj Allianz General Insurance (74%) increased by 13% yoy to Rs187cr, in Q4FY18. The shareholders profit after tax for Bajaj Allianz Life Insurance came in at Rs171cr in Q4FY18 vis-à-vis Rs198cr in Q4FY17.
• It is highest ever quarterly revenue and profit after tax reported by Bajaj Finance Ltd and Bajaj Allianz General Insurance Company Ltd.
• Bajaj Allianz General Insurance Company Limited: (BAGIC)
o Gross written premium (excluding crop insurance) for Q4FY18 increased by 22% yoy to Rs2,184cr vis-à-vis Rs1,796cr in Q3FY17.
o During Q4FY18, BAGIC wrote crop insurance of Rs580cr vs. Rs464cr in Q4FY17.
o Investment and other income for Q4FY18 stood at Rs244cr vs. Rs212cr in Q4FY17.
o PAT for Q4FY18 increased by 13% yoy to Rs187cr vs. Rs165cr in Q4FY17.
o Claim ratio stood at 67.9% in Q4FY18 vs. 67.1% in Q4FY17.
o Combined ratio stood at 93.4% in Q4FY18 vs. 92.7% in Q4FY17.
o As on March 31, 2018, solvency ratio stood at 276%.
• Bajaj Allianz Life Insurance Company Limited: (BALIC)
o New business premium stood at Rs1,394cr in Q4FY18 vs. Rs1,161cr in Q4FY17, an increase of 20% yoy.
o Renewal premium for Q4FY18 was at Rs1,296cr vs. Rs1,087cr in Q4FY17, an increase of 17% yoy. Persistency for the 13th month improved significantly from 68% in FY17 to 77% in FY18.
o The profit after tax of the company came it at Rs171cr, down by 14% yoy.
o The solvency ratio of the company stood at 592% as on March 31, 2018.
o The AUM as of March 31, 2018 was ~Rs51,970cr.
• Boards of BAGIC and BALIC have declared dividends of 100% and 70% respectively. BFS will receive dividend of Rs82cr and Rs78cr from them respectively in FY19 after approval by the shareholders of BAGIC and BALIC.

Technical View:

Bajaj Finserv Ltd is currently trading at Rs. 5,566.40, up by 248.45 points or 4.67% from its previous closing of Rs. 5,317.95 on the BSE.
The scrip opened at Rs. 5,383 and has touched a high and low of Rs. 5,600 and Rs. 5,286.80 respectively. So far 4,20,525 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.



***Note: This is a NSE Chart

 

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