Bajaj Finserv reported a consolidated net profit of ₹2,758 crore for the July to September quarter (Q2) of FY27, according to Economic Times. That is around 23% more than the ₹2,244 crore it earned in the same quarter last year. Consolidated means the profit of the company and its group businesses added together.
Its shares rose around 2% after the results on Tuesday, 3 November 2026, trading near ₹1,719 on the National Stock Exchange (NSE). The numbers matter because they combine several businesses, including the lender Bajaj Finance and the general insurer Bajaj General.
What happened
FY27 is the financial year from April 2026 to March 2027. So Q2 covers the three months that ended on 30 September 2026.
Revenue from operations rose around 17% to ₹43,416 crore, from ₹37,215 crore a year ago. This is the money a company earns from its main business, before costs are taken out.
The Hindu BusinessLine covered the day's results live and also listed Bajaj Finserv among companies whose Q2 profit rose. The same coverage said State Bank of India's (SBI) Q2 profit after tax was up 14%. You can read what brokerages expected from SBI in our SBI results preview.
Economic Times gives ₹43,416 crore for both revenue from operations and total income. We could not confirm that the two are exactly equal. Readers can check the company filing on the BSE or NSE website.
The numbers at a glance
| Item | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Consolidated net profit | ₹2,758 crore | ₹2,244 crore | Up around 23% |
| Revenue from operations | ₹43,416 crore | ₹37,215 crore | Up around 17% |
| Bajaj General net earned premium | ₹2,947 crore | ₹2,404 crore | Up 23% |
| Bajaj General profit | ₹420 crore | ₹517 crore | Down nearly 19% |
| Bajaj General claim ratio | 83.7% | 75.8% | Higher |
The table compares this quarter with the same quarter a year ago. By our calculation, group profit rose by ₹514 crore and revenue from operations by ₹6,201 crore.
Bajaj Finance: more loans, better asset quality
Bajaj Finance, the group's lending business, grew its quarterly net profit by 29%. Its customer franchise, or total customer base, grew by 4.42 million. It also booked 13.45 million new loans in the quarter.
Its Assets Under Management (AUM) rose 26% to around ₹5.85 lakh crore as of 30 September 2026. For a lender, AUM is the total value of the loans it manages.
Asset quality also improved. A Non-Performing Asset (NPA) is a loan on which the borrower has stopped paying for a long time. Bajaj Finance's gross NPA ratio fell to 1.06% from 1.24% a year ago. Its net NPA ratio fell to 0.42% from 0.60%. A gross NPA of 1.06% means that out of every ₹100 lent, about ₹1.06 is stuck in such loans.
Loan losses and provisions rose 4% to ₹2,166 crore. A provision is money a lender keeps aside from profit to cover loans that may not be repaid. This cost grew far more slowly than AUM, which rose 26%.
Two of its subsidiaries also grew. Profit after tax rose 18% at Bajaj Housing Finance and 36% at Bajaj Financial Securities. A subsidiary is a company controlled by another company.
Bajaj General: premiums up, profit down
Bajaj General, the group's general insurance business, grew its gross written premium by 10% to ₹7,056 crore. This is the total premium from all policies sold in the period. Leaving out bulky crop and government health business won through tenders (bidding for large contracts), growth was 21%.
Net earned premium rose 23% to ₹2,947 crore, from ₹2,404 crore. This is the part of the premium the insurer has actually earned for cover given during the quarter.
The claim ratio went up to 83.7% from 75.8%. This means about ₹83.70 out of every ₹100 of premium went to pay claims. By our calculation, that is a rise of 7.9 percentage points.
Profit fell nearly 19% to ₹420 crore, from ₹517 crore. The report did not give a separate reason. In general, when an insurer pays out a bigger share of premium as claims, less is left as profit.
Bajaj General's solvency ratio was 229% on 30 September 2026. This ratio shows whether an insurer has enough extra money to pay claims. It is well above the regulator's minimum of 150%. Its AUM rose around 4% to ₹34,974 crore.
What it means for a small investor
According to Economic Times, Bajaj Finserv shares gained over 2% in a week but fell about 1% in a month. They are down around 16% in 2026 so far and more than 17% over the past year.
Over three years, the stock has given a return of around 12%. Over five years, it is down about 2%. Its market capitalisation, the total value of all its shares, is around ₹2.75 lakh crore.
For a first-time investor, the lesson is that a group like this is a mix of businesses. This quarter, lending grew strongly and asset quality improved. Insurance earned more premium but less profit. You can follow wider moves in our markets section.
Risks to keep in mind
The reports we reviewed did not include any brokerage views on these results. The main risks are below.
- Bajaj General's claim ratio rose, and its quarterly profit fell.
- Crop and government health business depends on tenders and can change sharply.
- Bajaj Finance still set aside ₹2,166 crore for loan losses and provisions in one quarter.
- The share price is down more than 17% over the past year.
What to watch next
- The full results filing on the BSE and NSE websites, for exact figures.
- Whether Bajaj General's claim ratio comes down in the coming quarters.
- Whether Bajaj Finance keeps its NPA ratios low as its AUM grows.
Other quarterly numbers from this season are on our results page.
Words explained
- Consolidated net profit: The profit of a company and its group companies together, after all costs and taxes.
- AUM (Assets Under Management): For a lender, the total loans it manages. For an insurer, the money it has invested.
- NPA (Non-Performing Asset): A loan on which the borrower has stopped paying for a long time. Net NPA is what is left after provisions.
- Provision: Money kept aside from profit to cover loans that may not be repaid.
- Gross written premium: Total premium from all policies an insurer sells in a period.
- Net earned premium: The premium an insurer has earned for the cover it gave during the period.
- Claim ratio: The share of premium paid out as claims. A lower ratio leaves more for the insurer.
- Solvency ratio: Shows whether an insurer has enough extra money to pay all claims. The regulator sets a minimum.
Sources: Economic Times, The Hindu BusinessLine.
This article is for information and education only. It is not investment advice. MarketUpDown is not registered with SEBI as an investment adviser or research analyst. Read our disclaimer.