Bajaj Finserv Q3 PAT down -2.65% at Rs1,256cr on sharp losses in the insurance vertical

21 Jan 2022 , 08:51 PM

Bajaj Finserv Ltd reported 10.20% growth in total revenues for the Dec-21 quarter on consolidated basis at Rs17,587cr. On a sequential basis, the revenues were lower for the quarter by -2.34%.

During the quarter, The revenues from retail financing were up 28.3% at Rs8,535cr. At the same time, the revenues from the insurance business were up 22.8% at Rs7,052cr.

While revenues of life insurance were higher, the revenues from general insurance were lower on yoy basis. Investment income grew almost 4.5 fold yoy.

The consolidated Profit after tax (PAT) for the Dec-21 quarter was down -2.65% at Rs1,256cr. The biggest drag in profits came from the insurance business while the operating profits of the financing business more than doubled yoy.

For the quarter, Bajaj Finserv reported net loss on fair value changes of Rs129cr against profit of Rs2,061cr last year. PAT margins were lower from 8.08% in Dec-20 to 7.14% in Dec-21 quarter.

Sequential net margins were higher by 91 bps on a yoy basis.

Financial highlights for Dec-21 compared yoy and sequentially

	Bajaj Finserv
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 17,587	₹ 15,959	10.20%	₹ 18,008	-2.34%
Net Profit (Rs cr)	₹ 1,256	₹ 1,290	-2.65%	₹ 1,122	11.91%
Diluted EPS (Rs)	₹ 78.90	₹ 81.00		₹ 70.50
Net Margins	7.14%	8.08%		6.23%