Bajaj Finserv Q4 Results: Consolidated Total Income ₹32,042 Cr; up 36%

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Synopsis:

Bajaj Finserv Q4 Results were announced on 26 April 2024, recording optimism in different areas of its financials and performance for Q4 and FY2023-24. Pleased to announce a customer franchise increase of 14.5 million and new loans being booked at 36.2 million, the NBFC also clocked a Q4 Consolidated TotaRead more... Income of ₹32,042 Crore, and Consolidated PAT of ₹2,119 Crore, up by 36%, and 20%, both increased from the previous fiscal year’s same quarter, respectively. The Company revealed that favourable headwinds in the macroeconomic environment drove their Q4 results, with segment results showing signs of positive growth for the NBFC as well.Read less

Introduction

The mantra of Bajaj Finserv’s Q4 results should be “Healthy, healthy, and more healthy” as the once little-known NBFC gains traction in its financials and performance quarter after quarter. Q4 results have to be discussed by accounting for its key business segments. Given this, posting an all-time high in Consolidated Profit and Total Income for the 2024 fiscal year, BFL’s (the major business segment of Bajaj Finserv - Bajaj Finance) Consolidated Assets Under Management (AUM) hit a figure of more than ₹330,000 Crore. Furthermore, Q4 witnessed a Consolidated Total Income of ₹32,042 Crore, a rise of 36% over the same quarter of the last fiscal year. In other promising results, Bajaj Finance’s (a main contributor to the conglomerate’s Consolidated Revenue growth) Gross Non-Performing Assets (NPA) were at 0.85%, while Net Non-Performing Assets stood at 0.37% at the close of 31 March 2024, an improvement over the figures of 31 March 2023. 

Explore: Bajaj Finserv Share Price

5 Key Financial Highlights

Translating to a win for Bajaj Finserv, its financial results have reflected growth in the Company’s operations and businesses (the Company has included the financial results for Q4 for its key businesses of Bajaj Finance, General Insurance, and Life Insurance as well). Here are the five major highlights of the NBFC’s Q4 consolidated financial results: 

  • The Company reported its Consolidated Revenue (Consolidated Total Income) at ₹32,042 Crore, up by 36% compared to the same quarter of the previous fiscal year. 
  • Consolidated PAT (Profit After Tax) for Q4 was at ₹2,119 Crore, a rise of 20% compared to Q4 FY2022-23.  
  • Bajaj Finance Consolidated PAT was at ₹3,825 Crore, up 21% over Q4 FY2022-23. 
  • Bajaj Allianz General Insurance business’ PAT stood at ₹380 Crore, a rise of 18% over the same period of the previous fiscal year.  
  • Net New Business for the Bajaj Allianz Life Insurance segment was at ₹480 Crore, an increase of 16% compared to the same quarter of the last fiscal year. 

Additional ReadBajaj Finserv Ltd – A Detailed Study

Strategic Differentiators Driving Business

Bajaj Finserv Q4 results may be considered exemplary as the Company’s strategies to lead business growth have proven to be fruitful in Q4 as well as FY22023-24. Here are some highlights of the business as reported in the Company’s Q4 results, with Bajaj Finance Limited contributing the most in terms of Revenue Growth to the Company’s results: 

  • The Company has adopted a diversified financial services strategy that seeks to optimise risk and profit, intending to deliver a sustainable business model and deliver a superior ROE and ROA
  • The Company is focused on continuous innovation to transform its customer experience to create growth opportunities
  • Bajaj Finance Consolidated Revenue was at ₹14,934 Crore, a rise of  31% over the same period of the last fiscal year. 
  • Bajaj Allianz General Insurance Consolidated Revenue was at ₹7,652 Crore, up by 44% over the same period of the previous fiscal year.
  • Bajaj Allianz Life Insurance Consolidated Revenue was at ₹9,378 Crore, a rise of 33% over the last fiscal year’s same quarter. 
  • The Board of Directors has recommended a dividend of ₹1 per share - 100% on the face value of ₹1, with the total amount of dividend at ₹159.55 Crore (compared to FY23 when it was at ₹127.43 Crore).

Additional Read: 129 Indian Companies to Release Q4 Results

Major Financial Metrics Snapshot with Change - Consolidated Q4 (FY2023-24) Financial Results of Bajaj Finserv (in ₹ Crore)

Metrics

Q4 FY24

Q4 FY23

Change %

Total Revenue

34,042

23,625

36% up

PAT

2,119

1,769

20% up

PAT Excluding MTM Gain/Loss

2,152

1,836

17% up

Detailed Major Financial Metrics - Consolidated Q4 (FY2023-24) Financial Results (Income Statement) of Bajaj Finserv (in ₹ Crore)

Metrics

Q4 FY24

Q4 FY23

Total Income

32,041

23,624

Total Expenses

26,518

19,086

Profit for the Period

2,118

1,768

Total Comprehensive Income

5,270

3,318

EPS Basic

13.3

11.1

EPS Diluted

13.2

11.0

Additional Read: Quarterly Results

Bajaj Finserv - Marching Ahead

Bajaj Finserv’s Q4 results have to be seen from the perspective of all its segments and businesses which actively contribute to an overall proficient result for Q4. Significantly, and a key indicator for the road ahead for Bajaj Finserv, is the beyond-par performance of Bajaj Finance, with AUM growth at ₹19,647 Crore. Additionally, for this lucrative business segment, Net Interest Income (NII) for Q4 FY24 was ₹8,013 Crore relative to ₹6,254 Crore in Q4 FY23. The segment also added new customers and new loans, further increasing its growth potential. In terms of other business segments, Bajaj Finserv has shown promise as its insurance products have consistently been positioned among the top players in the country. With a balanced product mix and a channel mix to match, segments of the business, including the new asset management business look ahead with profitability and success. 

Additional ReadAnnual Results

Conclusion

Bajaj Finserv has all the makings of a leading Indian conglomerate, diversifying its operations into key areas with steady growth and a bright future for its growing client base. With new initiatives in many sectors like health and asset management, the tried and trusted financial company is on its way to bigger things in FY25. With its emerging business offerings of Bajaj Asset Management, Bajaj Health, and Bajaj Housing Finance taking leaps in business, the Company is set on a path of substantial growth as it adopts technology to boost its business operations.

Results for the Fourth Quarter and Full Year Ended March 31, 2024

Source: 

Bajaj Finserv Investor Presentation on BSE

Bajaj Finserv Press Release on BSE

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Frequently Asked Questions

What was the Bajaj Finserv Q4 Revenue?

Answer Field

For Q4, the Company reported its Revenue at ₹32,042 Crore, up by 36% over the same period of the last fiscal year.

What segments of the Company contributed the most to its Revenue in Q4?

Answer Field

Bajaj Finserv’s Q4 results showed the Company’s Revenue Growth which all its businesses contributed to. However, the business that contributed the most to this was Bajaj Finance with a Consolidated Revenue of ₹14,934 Crore.

What are some of the emerging businesses of Bajaj Finserv?

Answer Field

Some of the emerging businesses of Bajaj Finserv are Bajaj Health and Bajaj Asset Management Company.

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