Bajaj Finserv Q2FY23 PAT up 15.3% at Rs232.81 crore as input cost spike offsets sales growth gains

26 Oct 2022 , 01:16 AM

Bajaj Finserv reported 15.52% growth in total revenues for the September 2022 quarter on consolidated basis at Rs20,803cr.

Revenue growth was 30.93% in sequential terms. Bajaj Finserv is the holding company of Bajaj Finance and of Bajaj Allianz Insurance.

The interest income from the lending business was up 25.8% on yoy basis while the insurance premium revenues on a yoy basis were up by 9.5%.

Within life insurance, while life insurance revenues were higher on a yoy basis, the general insurance revenues were lower in latest quarter.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 38.75% at Rs1,557cr and it was 18.91% higher on sequential basis.

Being the holding company, the profits of both the key businesses are shown only after reducing the minority interest amount.

The big thrust to profit growth came from retail financing where profits grew 90% yoy. Operating profits of life and general insurance were lower on yoy basis.

Net profit margins at 7.48% in Q2FY23 were higher compared to 6.23% in Q2FY22 but were lower against 8.24% in Q1FY23.

Financial highlights for Sep-22 compared yoy and sequentially

	Bajaj Finserv
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 20,803.22	₹ 18,008.22	15.52%	₹ 15,888.26	30.93%
Net Profit (Rs cr)	₹ 1,556.93	₹ 1,122.13	38.75%	₹ 1,309.38	18.91%
Diluted EPS (Rs)	₹ 9.80	₹ 7.10		₹ 8.20
Net Margins	7.48%	6.23%		8.24%