Bajaj Finserv Q3 income rises 24% YoY, net profit marginally down
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Bajaj Finserv on Wednesday reported a consolidated net profit of ₹2,229 crore for the quarter ended December 31, 2025, down 0.08% from ₹2,231 crore reported during Q3 FY25. While the bottom-line figures appeared flat on a year-on-year (YoY) basis, the company's total income expanded by 23.9%, reaching ₹39,708 crore during Q3 FY26. On a quarter-on-quarter (QoQ) basis, the profit showed a decline from the ₹3,171 crore reported in Q2 FY26, primarily due to the timing of one-time provisions.
The marginal YoY slip in consolidated profit was driven by two specific, high-value adjustments: an accelerated provision by its lending arm, Bajaj Finance, and a one-time charge related to the new labour codes. Excluding these items, the consolidated profit after tax (PAT) grew 32% YoY to ₹2,936 crore.
Strengthening the balance sheet
During the quarter, Bajaj Finance Limited (BFL) implemented a minimum loss given default (LGD) floor. This move toward "balance sheet resilience" led to an accelerated ECL (expected credit loss) provision of ₹1,406 crore. Additionally, the group accounted for a ₹379 crore charge following the release of the new labour codes in November 2025.
January 2026
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Subsidiary performance
Bajaj Finance Limited (BFL): The consolidated PAT for BFL stood at ₹3,978 crore. Removing the impact of the provisions and labour codes, the PAT stands at ₹5,227 crore—representing a 23% increase YoY.
Insurance segments:
Bajaj Allianz General Insurance (BAGIC): Reported a PAT of ₹399 crore, staying nearly flat YoY. Its gross written premium (GWP) saw a healthy 17% YoY increase to ₹4,266 crore.
Bajaj Allianz Life Insurance (BALIC): Displayed momentum as its new business value (VNB) surged 59% YoY to ₹405 crore.
Ownership shift
This quarter also marked the completion of the acquisition of Allianz SE’s 23% stake in the insurance subsidiaries on January 8, 2026. Bajaj Finserv now holds a 75.01% equity stake in both the Life and General insurance companies. This increase in ownership allows BFS to capture a larger share of the long-term value created by these insurance engines.
The shares of Bajaj Finserv ended 0.21% higher at ₹2,017 apiece on the National Stock Exchange. The company's stock has risen over 11% in the past year, slightly outperforming the benchmark Nifty 50 index that grew close to 9% during the same period.