Bajaj Finance Q2 FY27 results: net profit up 28.7% to ₹6,367 crore, revenue up 21.6%

How did Bajaj Finance perform in Q2 FY27?

Bajaj Finance reported consolidated revenue of ₹24,546 crore for Q2 FY27, up 21.6% from ₹20,179 crore in Q2 FY26 and 6.0% from ₹23,165 crore in Q1 FY27. Total income rose 21.8% year on year to ₹24,575.82 crore. The company did not report an EBITDA figure or EBITDA margin for the quarter.

Profit before tax rose 29.2% year on year to ₹8,533 crore and increased 4.8% from ₹8,144 crore in Q1 FY27. Net profit rose 28.7% to ₹6,367 crore from ₹4,948 crore and was 4.7% above the previous quarter’s ₹6,081 crore. Basic EPS was ₹10.07 against ₹7.85 a year earlier and ₹9.62 in Q1 FY27.

The net profit margin was 25.9% in Q2 FY27, 1.4 percentage points higher than Q2 FY26 and 0.3 percentage points lower than Q1 FY27. On a standalone basis, revenue was ₹20,890.66 crore and profit after tax was ₹5,536.1 crore, with revenue growth of 21.6% and standalone PAT before the current quarter at ₹4,250.77 crore.

What changed in Bajaj Finance's costs and profit?

Total expenses increased 18.2% year on year to ₹16,042 crore, compared with revenue growth of 21.6%. Finance costs were ₹8,602 crore, up 22.7% or ₹1,590 crore from Q2 FY26, while employee cost rose 24.9% or ₹536.15 crore to ₹2,691 crore. Depreciation increased 24.4% to ₹321.07 crore and other expenses rose 19.6% to ₹1,254 crore.

Other income increased by ₹27.59 crore to ₹29.45 crore from ₹1.86 crore in Q2 FY26. There was no exceptional item in the quarter. Tax expense was ₹2,171 crore, up 30.7% or ₹510.26 crore from ₹1,660 crore, while profit before tax rose 29.2% to ₹8,533 crore.

The investor presentation said loan losses and provisions were ₹2,166 crore, including ₹337 crore of prudent management and macro-economic provision. Excluding that provision, loan losses and provisions were ₹1,829 crore, down 12% from Q2 FY26. The presentation also said pre-provisioning operating profit grew 23% to ₹10,699 crore.

How did the first half of FY27 go?

In H1 FY27, consolidated revenue rose 20.2% to ₹47,711.82 crore from ₹39,702.78 crore in H1 FY26. Total income increased 20.2% to ₹47,742.24 crore, while profit before tax rose 28.6% to ₹16,677.36 crore. Net profit increased 28.1% to ₹12,447.17 crore from ₹9,713.05 crore.

Basic EPS for the first half was ₹19.69, up from ₹15.41 in H1 FY26. The standalone filing showed total revenue from operations of ₹40,693.09 crore for H1 FY27, compared with ₹33,550.96 crore in the year-ago period.

What do the balance sheet and cash flow show?

Total assets were ₹639,442.52 crore on 30 September 2026, compared with ₹559,952.36 crore on 31 March 2026. Total equity rose to ₹126,365.26 crore from ₹116,985.54 crore, while cash and cash equivalents declined to ₹1,815.11 crore from ₹1,896.9 crore. The filing did not provide a borrowings figure for either balance-sheet date.

Operating cash flow for H1 FY27 was negative ₹64,675.3 crore, compared with negative ₹29,585.15 crore in H1 FY26. Investing cash flow was positive ₹1,445.21 crore against negative ₹2,529.93 crore, while financing cash flow was positive ₹63,148.3 crore compared with positive ₹30,154.02 crore. Capital expenditure was ₹373.54 crore against ₹225.93 crore a year earlier.

How has Bajaj Finance done over the last 8 quarters?

Profit had risen year on year for the last three quarters in the reported series. The trend data does not provide EBITDA margin figures, so it does not show where that measure peaked or bottomed.

What else did the company announce?

On 19 October 2026, the board approved the issue of 49,00,737 equity shares of face value of ₹1 at the respective grant prices to the trustees of the BFL Employee Welfare Trust under the BFL Employee Stock Option Scheme, 2009. The same-day filing stated that the board also approved, subject to shareholder approval, an equity-share raise of up to ₹11,700 crore through a Qualified Institutions Placement and preferential warrants convertible into equivalent equity shares worth up to ₹5,800 crore to Bajaj Finserv Limited.

The board re-appointed Prashant Verma as Chief Information Security Officer for three years, effective 1 February 2027, subject to regulatory approvals, if any. The company also filed the investor presentation and uploaded the audio recording of the Q2 FY26-27 earnings call to its website.

What did Bajaj Finance's management say?

Management said AUM grew 26.5% to ₹5,84,624 crore, with a net addition of roughly ₹38,000 crore in Q2 FY27. The company expects FY27 AUM growth of 26–27%, 60–62 million new loans and 18–20 million new customer additions. It also expects FY27 NIM compression of 10–15 basis points, with a marginal additional headwind, while keeping credit cost in the same corridor.

Management said multi-loan customer exposure fell to 7% from 14% and set a target of 3.5% within about six months. The company expects 25–40 basis points improvement in opex-to-net-total-income for FY27. Management identified repo-rate increases toward 6%, El Nino, oil at USD100–USD110, district-level drought, gold-loan competition and unresolved insurance, revolver-loan and gold-loan rules as risks.

Management said the ₹11,700 crore capital raise, including ₹5,800 crore of preferential warrants, was subject to shareholder approval. The investor presentation said the decision reflected India’s growth, the growth momentum of Bajaj Finance and its subsidiaries, and the need to build resilience across capital, talent, technology, AI, cyber security, regulatory compliance, provisioning coverage, borrowings and liquidity.

Management said the business was fundamentally intended to build profit rather than AUM. The earnings call also covered portfolio estimation, which management described as an estimate identifying which portfolio could be affected rather than an exact science.

How did Bajaj Finance shares react?

After the filing, Bajaj Finance’s share price was down 3.1% after five minutes, 3.0% after 15 minutes and 2.3% after 30 minutes. It closed 3.3% lower on the reaction day from the previous close. By the next day’s close, the stock was down 1.6% from its pre-results close, and by the fifth session it was down 4.2% from that close.

On the reaction day, the median move for other NBFC stocks was 1.9% lower, while Bajaj Finance was 1.4 percentage points below the sector median. By the next day, the stock’s move was 0.5 percentage points above the sector median, and by five days it was 1.3 percentage points below it. Earlier results-day moves were 0.6% on 30 July 2026, 0.7% on 29 April 2026, 0.0% on 3 February 2026 and negative 7.1% on 10 November 2025.

How did other Non Banking Financial Company (NBFC) companies do?

Among 77 other NBFC companies compared for the quarter, the median revenue growth was 21.4% as of 4 November 2026. Of the peers whose revenue growth was compared with Bajaj Finance, 39 grew more slowly than the company and 38 grew faster than the company. The company’s 21.6% consolidated revenue growth was slightly above the peer median.

Of the 85 peers for which profit was compared, 56 reported higher profit. Bajaj Finance’s consolidated net profit growth was 28.7% in Q2 FY27, and its profit margin was 25.9%, compared with 24.5% in Q2 FY26.