Bajaj Finserv PAT up by 17% to ~7 billion

Bajaj Finserv continues to lead the charge amongst financial companies as one of the largest and fastest growing lenders, especially in the retail space.

The financial conglomerate has posted a profit-aftertax (PAT) growth of

17 per cent, yearon-year, to ~7 billion at the end of the second quarter of FY19, compared with ~6.98 billion in net profit during the corresponding quarter of the previous financial year.

Consolidated income for the financial company rose by 17 per cent from ~82.66 billion in Q2FY18 to ~96.98 billion at the end of Q2FY19.

Bajaj Finserv is the holding company of Bajaj Finance, Bajaj Allianz General Insurance, and Bajaj Allianz Life Insurance.

Bajaj Finance’s net profit has grown by 54 per cent over the past year, from ~5.98 billion in Q2FY18 to ~9.23 billion as of Q2FY19.

The company disbursed around 30.05 million new loans this quarter, compared to 22.99 million in the corresponding quarter of the previous financial year.

Assets under management (AUM) has grown by 38 per cent, from ~726.7 billion in Q2FY18 to ~1002.2 billion in Q2FY19.

While the rural lending business has grown 71 per cent to ~74.4 billion as of Q2FY19, the mortgage lending business continues to be the largest contributor to the company’s AUM.

This is followed by its commercial lending, consumer B2B and consumer B2C lending business.

Bajaj Finserv is the holding company of Bajaj Finance, Bajaj Allianz General Insurance, and Bajaj Allianz Life Insurance