BAJAJFINSV · Financial Services
Bajaj Finserv Ltd. reported total income of ₹36,433 cr for January to March 2025, +13.7% on the year and +13.7% on the quarter. It is the highest quarterly income in the last 8 quarters on record. Over the last four quarters income comes to ₹1.34 lakh cr, +21.1% on the four before.
Net interest income, interest earned less interest paid, was ₹30,037 cr, +11.7% on the year and +16.6% on the quarter. For a lender this is the core earnings line: it shows whether the loan book and its pricing are growing faster than the cost of funds.
Net profit was ₹4,756 cr, +16.4% on the year and +7.8% on the quarter, with earnings per share of ₹15.14. The tax rate was 21% against an average of 27% over the previous 7 quarters, which lifted profit this quarter. Profit over the last four quarters totals ₹17,557 cr, +12.6% on the four before.
An NBFC's quarter turns on loan growth, its cost of borrowing and credit costs; profit can rise for a while simply because provisions fall. The quarterly statements do not carry AUM growth, stage 2 and 3 assets, credit cost and the cost of funds; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed, Asset quality (lenders), Net interest margin (lenders). Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
Lenders are read on NIM, asset quality, provision cover and credit cost. Those come from the filing read, which is not in yet for this quarter, so margin, other-income and cash checks are withheld rather than shown on a template built for manufacturers.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total income | ₹26,023 cr | ₹29,038 cr | ₹32,041 cr | ₹31,480 cr | ₹33,704 cr | ₹32,042 cr | ₹36,433 cr | ₹35,288 cr | ₹37,403 cr | ₹39,708 cr | ₹38,494 cr | ₹42,037 cr |
| YoY | — | — | — | +35% | +30% | +10% | +14% | +12% | +11% | +24% | +6% | +19% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 29% | 26% | 26% | 29% | 30% | 24% | 21% | 26% | 30% | 26% | 25% | 30% |
| Net profit | ₹3,756 cr | ₹4,045 cr | ₹4,085 cr | ₹4,209 cr | ₹4,180 cr | ₹4,412 cr | ₹4,756 cr | ₹5,329 cr | ₹4,746 cr | ₹4,368 cr | ₹5,226 cr | ₹6,297 cr |
| YoY | — | — | — | +13% | +11% | +9% | +16% | +27% | +14% | −1% | +10% | +18% |
| EPS | ₹12.09 | ₹13.52 | ₹13.28 | ₹13.39 | ₹13.07 | ₹13.97 | ₹15.14 | ₹17.46 | ₹14.04 | ₹13.95 | ₹15.86 | ₹19.57 |
| Flags | · | · | · | · | · | · | · | · | · | · | · | · |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Bajaj Finserv Ltd. reported total income of ₹36,433 cr (+13.7% on the year) and net profit of ₹4,756 cr (+16.4% on the year) for January to March 2025.
None of the 3 checks that could run raised a question.
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.