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Bajaj Finserv Q2 FY27 results: net profit up 25.4% to ₹5,952 crore, revenue up 16.1%
Bajaj Finserv Limited reported consolidated revenue of ₹43,416 crore for Q2 FY27, up 16.1% from Q2 FY26. Net profit was ₹5,952 crore, up 25.4%, while profit attributable to owners rose 22.9% to ₹2,758 crore; basic EPS was ₹17.22.
Key points
- Consolidated revenue was ₹43,416 crore in Q2 FY27, up ₹6,013 crore or 16.1% from Q2 FY26.
- Net profit was ₹5,952 crore, up ₹1,206 crore or 25.4%, and basic EPS increased ₹3.12 to ₹17.22.
- Profit attributable to owners rose ₹513.56 crore or 22.9% to ₹2,758 crore, compared with ₹3,132 crore in Q1 FY27.
- In H1 FY27, revenue was ₹85,453 crore and net profit was ₹12,249 crore, up 17.3% and 21.6% respectively.
- Retail financing revenue rose 21.8% to ₹24,576 crore, while insurance revenue rose 11.5% to ₹19,292 crore.
How did Bajaj Finserv perform in Q2 FY27?
Bajaj Finserv’s consolidated revenue was ₹43,416 crore in Q2 FY27, up ₹6,013 crore or 16.1% from ₹37,403 crore in Q2 FY26. Net profit rose ₹1,206 crore or 25.4% to ₹5,952 crore, profit attributable to owners rose ₹513.56 crore or 22.9% to ₹2,758 crore, and basic EPS increased ₹3.12 to ₹17.22. The profit margin was 13.7%, up 1.0 percentage point from 12.7%.
Against Q1 FY27, revenue rose ₹1,379 crore or 3.3% to ₹43,416 crore, but net profit fell ₹344.66 crore or 5.5% to ₹5,952 crore. Profit attributable to owners fell ₹374.69 crore or 12.0% to ₹2,758 crore, basic EPS declined ₹2.38 to ₹17.22, and the profit margin fell 1.3 percentage points to 13.7%. EBITDA and EBITDA margin were not reported. On a standalone basis, revenue was ₹2,005.66 crore and profit after tax was ₹1,458.53 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 43,416 | 42,037 | 37,403 | +16.1% | +3.3% |
| Other income | 0 | 0 | 0 | ||
| Total expenses | 34,812 | 33,110 | 30,581 | +13.8% | +5.1% |
| Profit before tax | 8,604 | 8,927 | 6,822 | +26.1% | −3.6% |
| Tax | 2,656 | 2,636 | 2,079 | +27.8% | +0.8% |
| Net profit | 5,952 | 6,297 | 4,746 | +25.4% | −5.5% |
| EPS (₹) | 17.22 | 19.60 | 14.10 | +22.1% | −12.1% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Bajaj Finserv's costs and profit?
Total expenses rose ₹4,231 crore or 13.8% to ₹34,812 crore from ₹30,581 crore in Q2 FY26. Employee cost increased ₹671.36 crore or 19.8% to ₹4,057 crore, finance costs rose ₹1,582 crore or 22.9% to ₹8,483 crore, depreciation increased ₹95.52 crore or 29.2% to ₹422.71 crore, and other expenses rose ₹1,867 crore or 12.4% to ₹16,947 crore. Other income remained unchanged, and there was no exceptional item.
Profit before tax increased ₹1,782 crore or 26.1% to ₹8,604 crore from ₹6,822 crore, while tax expense rose ₹576.91 crore or 27.8% to ₹2,656 crore. Net profit consequently rose ₹1,206 crore or 25.4% to ₹5,952 crore. The filing did not provide a consolidated explanation for the movement in the cost lines.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Employee cost | 4,057 | 3,386 | +671.36 | +19.8% |
| Finance costs | 8,483 | 6,901 | +1,582 | +22.9% |
| Depreciation | 422.71 | 327.19 | +95.52 | +29.2% |
| Other expenses | 16,947 | 15,080 | +1,867 | +12.4% |
| Total expenses | 34,812 | 30,581 | +4,231 | +13.8% |
| Other income | 0 | 0 | 0 | |
| Tax | 2,656 | 2,079 | +576.91 | +27.8% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Bajaj Finserv reported revenue of ₹85,453 crore, up ₹12,611 crore or 17.3% from ₹72,842 crore in H1 FY26. Total income rose 17.3% to ₹85,453 crore, while profit before tax increased ₹3,506 crore or 25.0% to ₹17,531 crore.
H1 net profit was ₹12,249 crore, up ₹2,173 crore or 21.6% from ₹10,076 crore in H1 FY26. Basic EPS increased ₹5.29 to ₹36.79 from ₹31.5, a rise of 16.8%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 85,453 | 72,842 | +17.3% |
| Profit before tax | 17,531 | 14,025 | +25.0% |
| Net profit | 12,249 | 10,076 | +21.6% |
| EPS (₹) | 36.79 | 31.50 | +16.8% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets increased from ₹758,498 crore at 31 March 2026 to ₹856,839 crore at 30 September 2026, while total equity rose from ₹140,965 crore to ₹151,366 crore. Cash declined from ₹3,599 crore to ₹2,730 crore. Borrowings were not reported in the available figures.
H1 FY27 operating cash flow was negative ₹58,474 crore, compared with negative ₹25,746 crore in H1 FY26. Investing cash flow was negative ₹8,258 crore against negative ₹9,847 crore, while financing cash flow was positive ₹64,455 crore against positive ₹31,784 crore. Capital expenditure was ₹795.34 crore, compared with ₹421.01 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 8,56,839 | 7,58,498 |
| Total equity | 1,51,366 | 1,40,965 |
| Cash and equivalents | 2,730 | 3,599 |
| Inventories | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −58,474 | −25,746 |
| Cash from investing | −8,258 | −9,847 |
| Cash from financing | 64,455 | 31,784 |
| Capital expenditure | 795.34 | 421.01 |
Source: Company's results filing (XBRL).
How has Bajaj Finserv done over the last 8 quarters?
Revenue rose year on year in each of the last eight quarters and increased from ₹32,042 crore in Q3 FY25 to a period high of ₹43,416 crore in Q2 FY27. The latest quarter was higher than ₹42,037 crore in Q1 FY27, although it remained below the ₹43,416 crore level previously reported for the current period.
Net profit was highest at ₹6,297 crore in Q1 FY27 before falling to ₹5,952 crore in Q2 FY27. Across the reported period, it bottomed at ₹4,368 crore in Q3 FY26, before rising in the following quarter and easing in the latest quarter. Revenue and profit have now increased for three consecutive quarters on a year-on-year basis.
Which businesses drove the quarter?
Retail financing remained the largest reported segment, with revenue of ₹24,576 crore, up 21.8% from ₹20,181 crore, and EBIT of ₹8,154 crore, up from ₹6,537 crore. Its EBIT margin was 33.2%. Insurance revenue rose 11.5% to ₹19,292 crore, while EBIT increased to ₹798 crore from ₹508 crore; the segment’s EBIT margin was 4.1%.
Investments and others recorded revenue of ₹2,394 crore, up 28.7% from ₹1,860 crore, and an EBIT loss of ₹352.56 crore compared with a loss of ₹226.83 crore. Windmill revenue rose 8.1% to ₹10.68 crore, while EBIT increased to ₹8.13 crore from ₹7.18 crore; its EBIT margin was 76.1%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Insurance | 19,292 | +11.5% | 798.16 | 4.1% |
| Investments and others | 2,394 | +28.7% | −352.56 | -14.7% |
| Retail financing | 24,576 | +21.8% | 8,154 | 33.2% |
| Windmill | 10.68 | +8.1% | 8.13 | 76.1% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
On 3 November 2026, the board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026. The limited review reports carried unmodified opinions, free from qualifications. The board meeting began at 10:30 a.m. IST and concluded at 12:40 p.m. IST. The same-day investor communication was an investor presentation; the available filings did not report a dividend, fund raise or appointment.
What did Bajaj Finserv's management say?
Management said Bajaj General Insurance’s annualised ROE at 200% solvency is estimated at approximately 16.2% for FY2027, and that the insurance marketplace is planned for FY2028. It also said the retail business with IndusInd Bank will start in Q3 FY2027. The presentation cited a 20%+ ROE target for mature businesses, a 13%-15%+ ROE target for future opportunities, and an 18%-20% ROEV target.
Management said capital allocation priorities include the insurance marketplace, reinsurance, pensions, wealth management, GIFT City and NRI expansion. It said the reinsurance business was approved by the board in July 2026 and that IRDAI approval would be sought. Bajaj Life’s GIFT City operations started in October 2026, while its FINAI work includes a dedicated 500+ member team, 400+ projects and 150+ deployed projects.
Management said Bajaj General’s combined ratio deteriorated by 2.2 percentage points to 104.5%, including ₹75 Crore of net NATCAT claims and higher Health loss ratios. It also said Q2 mark-to-market losses were ₹121 Crore at Bajaj General and ₹56 Crore at Bajaj Life, while Bajaj General’s GDPI growth of 10.0% trailed the industry’s 12.4%. Bajaj General’s solvency fell to 229% from 339%, and Bajaj Life’s to 255% from 346%; management attributed the General Insurance decline to buyback and dividend payouts.
How did Bajaj Finserv shares react?
The stock was up 1.3% on the reaction day from its pre-results close of ₹1,716.0, and it was down 0.1% after 30 minutes from the filing appearing. By the next day’s close, it was up 3.8% from the pre-results close. The Holding Company industry median rose 0.3% on the reaction day and 1.2% by the next close, leaving Bajaj Finserv ahead by 1.0 percentage point and 2.6 percentage points on those closes.
Past reaction-day moves were 6.3% on 31 July 2026, 0.7% on 6 April 2026 and 0.3% on 4 February 2026. Earlier reactions included an 8% rise on 11 October 2025, while the shares fell 2.2% on 25 July 2025 and 5.5% on 29 April 2025.
| After the filing | Stock | Holding Company median |
|---|---|---|
| 5 minutes | +0.0% | |
| 15 minutes | +0.0% | |
| 30 minutes | −0.1% | |
| Reaction day | +1.3% | +0.3% |
| Next day | +3.8% | +1.2% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 31 July 2026 | +6.3% |
| 6 April 2026 | +0.7% |
| 4 February 2026 | +0.3% |
| 11 October 2025 | +0.8% |
| 25 July 2025 | −2.2% |
| 29 April 2025 | −5.5% |
| 30 January 2025 | −2.1% |
| 23 October 2024 | +0.8% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Bajaj Finserv's revenue in Q2 FY27?
Revenue from operations was ₹43,416 crore, up 16.1% from ₹37,403 crore in Q2 FY26 (consolidated).
Did Bajaj Finserv make a profit in Q2 FY27?
Yes. Net profit was ₹5,952 crore, against a net profit of ₹4,746 crore in Q2 FY26.
What was Bajaj Finserv's EPS in Q2 FY27?
Basic earnings per share were ₹17.22, against ₹14.10 in Q2 FY26.
How did Bajaj Finserv shares react to the Q2 FY27 results?
On the reaction day the stock moved +1.3% from the previous close; the median Holding Company stock moved +0.3%.
When did Bajaj Finserv announce its Q2 FY27 results?
On 3 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Considering And Approving The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended 30 September 2026. (BSE, 5 October 2026) · PDF
- Outcome of Board Meeting (NSE, 3 November 2026) · PDF
- The investor presentation (3 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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