Bajaj Finserv Q4 result: Profit surges 37.4% to ₹1,346 cr; revenue up 22.5%

Non-banking financial services company Bajaj Finserv has reported a consolidated net profit of ₹1,346 crore for the January-March quarter, growing at 37.48% over ₹979 crore profit posted in the same quarter last year.

The company's revenue for Q4 FY22 grew to ₹18,861.67 crore, up 22.58% from ₹15,387 crore during the corresponding period last year.

The company's board of directors has also recommended a dividend of ₹4 per share, taking the total amount of FY22 dividend to ₹64 as compared to ₹48 in the previous year.

In its financial result statement, Bajaj Finserv said business conditions improved in Q4 FY22, though these were volatile due to the Russia-Ukraine war. The company's general insurance business was “affected” due to rise/drop in sales of automobiles in the wake of supply-chain problems but the overall environment was conducive.

Bajaj Finserv's annual consolidated profit for the full fiscal year FY22, however, increased marginally to ₹4,557 crore vs ₹4,470 crore during the previous year. Its total financial assets as of March 31, 2022, rose to ₹4,438.42 crore from ₹3,868.5 crore during the same quarter last year.

Its customer franchise grew 19% to the highest ever 57.57 million as of March 31, 2022, compared to 48.57 million as of March 31, 2021.

Bajaj Finserv's ownership in Bajaj Finance, Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC) accounted for its record earnings.

Bajaj Allianz General Insurance recorded in highest ever gross written premium and profit in FY22, while Bajaj Allianz Life Insurance grew 49% in individual rated new business premium in FY22.

Bajaj Finance reported a total income worth 8,630 crore vs ₹6,855 crore during the same quarter last year. Its profit grew to ₹2,420 crore from ₹1,347 crore during the corresponding quarter last year.

Bajaj Allianz General Insurance recorded ₹248 crore profit, a decline from ₹273 crore during the same quarter last year. Its gross written premium surged to ₹3,300 crore in Q4 FY22 from ₹2,787 crore in Q4 FY21.

Bajaj Allianz Life Insurance's individual rated new premium was ₹1,347 crore during Q4 FY 22, while its shareholders' profit for the said quarter declined majorly to ₹48 crore vs ₹234 crore during the same quarter last year.

The Bajaj Finserv share is trading 1.41% up at ₹15,034.85 as compared to the previous session close of ₹14,826.4 on the National Stock Exchange (NSE).