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Bajaj Finserv Q1 profit rises 12% as revenue grows 19%
The board also approved entry into reinsurance via a new subsidiary, pending IRDAI and other regulatory approvals.
Bajaj Finserv posted a 12% year-on-year increase in consolidated net profit to ₹3,132 crore for the April to June quarter, or Q1 FY27, the company said for results released during market hours on 31 July.
Revenue from operations rose 19% to ₹42,037 crore, while interest income increased more than 18% year-on-year to ₹22,362 crore in the quarter.
Separately, the company’s board approved plans to enter the reinsurance business through a new subsidiary, subject to approvals from India’s Insurance Regulatory and Development Authority of India (IRDAI) and other regulatory authorities.
The board also cleared the issuance of 15.11 lakh equity shares to the Bajaj Finserv ESOP Trust under its employee stock option scheme, and the stock climbed more than 5% to trade at ₹2,008 per share after the results were announced, according to LiveMint Markets.