Bajaj Finserv Q2 FY27 Results: Consolidated Net Profit ₹5,952 Crore on Total Income of ₹43,416 Crore
- Earnings
- Financial services
Reviewed byKeshav SehgalBlacklitt Research
Bajaj Finserv (NSE: BAJAJFINSV) reported consolidated total income of ₹43,415.65 crore and net profit of ₹5,952.01 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹2,047.15 crore and standalone net profit ₹1,458.53 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹43,415.65 crore, up 16.7% YoY and 3.3% QoQ
- Net profit: ₹5,952.01 crore, up 25.4% YoY and down 5.5% QoQ; basic EPS ₹17.22 against ₹14.05 a year earlier
- Owners' share of profit: ₹2,757.66 crore; the press release puts the rise at 23%
- Finance costs: ₹8,482.91 crore, up 22.9% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹2,047.15 crore, up 38.2% YoY and 32.8% QoQ
- Net profit: ₹1,458.53 crore, up 34.4% YoY; basic EPS ₹9.11 against ₹6.79
- Dividend income: ₹1,916.19 crore against ₹1,405.21 crore a year earlier
- Tax expense: ₹463.60 crore, up 45.8% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 43,415.65 | 37,214.56 | +16.7% | 42,036.90 | +3.3% | |
| Revenue from operations | 43,415.65 | 37,214.56 | +16.7% | 42,036.90 | +3.3% |
| 5,952.01 | 4,746.47 | +25.4% | 6,296.67 | -5.5% | |
| Profit before tax | 8,607.58 | 6,825.13 | +26.1% | 8,932.19 | -3.6% |
| Finance costs | 8,482.91 | 6,901.33 | +22.9% | 7,833.85 | +8.3% |
| Depreciation | 422.71 | 327.19 | +29.2% | 379.68 | +11.3% |
| Tax expense | 2,655.57 | 2,078.66 | +27.8% | 2,635.52 | +0.8% |
| Net profit margin | 13.71% | 12.75% | +0.96 pp | 14.98% | -1.27 pp |
| EPS, basic (₹) | 17.22 | 14.05 | +22.6% | 19.60 | -12.1% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew faster than income. Net profit rose 25.4% to ₹5,952.01 crore, while total income rose 16.7% to ₹43,415.65 crore. Profit before tax rose 26.1% to ₹8,607.58 crore, and tax expense rose 27.8% to ₹2,655.57 crore. The company's press release gives total income up 17% and profit after tax up 25%.
Finance costs rose faster than total income. They were ₹8,482.91 crore, up 22.9% on a year earlier, and 19.5% of total income this quarter. Against the quarter before, net profit fell 5.5% to ₹5,952.01 crore from ₹6,296.67 crore, while total income rose 3.3%.
The company says its insurance subsidiaries hold part of their equity portfolio at fair value through profit and loss and the balance at fair value through other comprehensive income, and that this may cause temporary volatility from unrealised mark-to-market movements. The company also gives a measure that excludes unrealised mark-to-market gains or losses and includes realised equity gains booked under OCI: ₹2,978 crore for the quarter, against ₹2,449 crore a year earlier.
Bajaj Finance's consolidated profit after tax was ₹6,367 crore, up 29%, on net total income of ₹15,974 crore. Its assets under management were ₹5,84,624 crore on 30 Sep 2026, up 26% from a year earlier, with gross NPA at 1.06% and net NPA at 0.42%, against 1.24% and 0.60% on 30 Sep 2025. Bajaj General's gross written premium rose 10% to ₹7,056 crore, and Bajaj Life's value of new business rose 40% to ₹512 crore.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 2,047.15 | 1,481.28 | +38.2% | 1,541.90 | +32.8% | |
| Revenue from operations | 2,005.66 | 1,472.51 | +36.2% | 1,533.60 | +30.8% |
| Other income | 41.49 | 8.77 | +373.1% | 8.30 | +399.9% |
| 1,458.53 | 1,085.18 | +34.4% | 1,117.60 | +30.5% | |
| Profit before tax | 1,922.13 | 1,403.23 | +37.0% | 1,425.51 | +34.8% |
| Depreciation | 17.85 | 1.35 | n/a | -13.39 | n/a |
| Tax expense | 463.60 | 318.05 | +45.8% | 307.91 | +50.6% |
| Net profit margin | 71.25% | 73.26% | -2.01 pp | 72.48% | -1.24 pp |
| EPS, basic (₹) | 9.11 | 6.79 | +34.2% | 6.99 | +30.3% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone total income rose 38.2% to ₹2,047.15 crore, and net profit rose 34.4% to ₹1,458.53 crore, so profit grew more slowly than income. Dividend income was ₹1,916.19 crore against revenue from operations of ₹2,005.66 crore, and ₹1,405.21 crore a year earlier.
Other income was ₹41.49 crore against ₹8.77 crore a year earlier. Tax expense rose 45.8% to ₹463.60 crore, against profit before tax of ₹1,922.13 crore.
The company says it re-assessed its tax provision for the year ended 31 Mar 2026 and wrote back ₹20.14 crore in the half year ended 30 Sep 2026, on account of a deduction under section 80M. The corresponding half year a year earlier was ₹40.21 crore.
Inference
The company has expressed an intent to subscribe to a preferential issue of Bajaj Finance for up to ₹5,800 crore, subject to finalisation of terms and to regulatory and statutory approvals. Bajaj Finance's board approved on 1 Oct 2026 a raise of up to ₹11,700 crore through a Qualified Institutions Placement, and a preferential issue of warrants to Bajaj Finserv for up to ₹5,800 crore, subject to approvals that include Bajaj Finance's shareholders.
On 6 Aug 2026 the company allotted 1,511,358 equity shares to the Bajaj Finserv ESOP Trust, listed from 12 Aug 2026. Bajaj Reinsurance Limited was incorporated in October 2026 and will seek the necessary regulatory approvals. The filing gives no terms, timing or funding for the subscription, and no reason for the rise in standalone dividend income.
Filed with BSE on . Reference: Original filing (PDF)
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