- 30 Apr 2025
- ICICIdirect Research
BAJAJ FINSERV REPORTED A STEADY PERFORMANCE IN Q4FY25
BAJAJFINSV - 2018 Change: -32.20 (-1.57 %)News: Bajaj Finserv reported a steady performance in Q4FY25, with the lending segment continuing to drive growth, while insurance performance was mixed. Consolidated revenue rose 14% YoY to ₹36,596 crore. Lending business remained strong, with AUM up 26% YoY to ₹4,16,661 crore and PAT rising 17% YoY to ₹4,480 crore. Asset quality held firm (GNPA at 0.96%). General insurance GWP declined 13% YoY due to accounting changes and lower tender bookings; however, core GWP (ex-crop/govt.) rose 8% YoY. Claim ratio increased, pushing combined ratio to 104.8%, resulting in underwriting loss of ₹3 crore. Life insurance premium grew 13% YoY; VNB rose 14% YoY to ₹549 crore, with NBM expanding 400 bps YoY to 22.1%. AUM increased 13% YoY to ₹1,23,734 crore. Consolidated PAT grew 14% YoY to ₹2,417 crore.
View: Continued traction in AUM growth and steady operational performance bodes well for the lending business. Life insurance on track to deliver gradual revival with uptick in VNB margin, while general insurance remain laggard owing to higher claims.
Impact: Neutral