Bajaj Finserv Q2 Updates: Bajaj Allianz Life's Total Premium In September Is Rs 1,052 Crore
Bajaj Allianz GIC's underwritten premium in September is Rs 1,689 crore, while the gross direct premium underwritten up to September 2024 is Rs 10,557.16 crore
Bajaj Finserv branch in Mahableshwar. (Source: NDTV Profit)
Bajaj Finserv Ltd. released the provisional figures for the July-September quarter for the company's subsidiaries, Bajaj Allianz General Insurance Company Ltd. and Bajaj Allianz Life Insurance Co.
Bajaj Allianz GIC's underwritten premium in September is Rs 1,689 crore, while the gross direct premium underwritten up to September 2024 is Rs 10,557.16 crore, according to provisional quarterly business updates filed with stock exchanges.
Bajaj Allianz Life Insurance Co.'s total premium in September was Rs 1,052 crore. The total premium until September 2024 stands at Rs 5,740.79 crore.
The company's individual premium for the month of September 2024 is Rs 62.69 crore. The individual non-single premium is Rs 663.05 crore. While the group's single premium for September is Rs 306.22 crore, the group's yearly renewable premium is Rs 20.46 crore.
Bajaj Finserv Q1 Performance
In the first quarter of fiscal 2025, Bajaj Finserv reported a 10% increase in consolidated net profit at Rs 2,138 crore. The company had logged a net profit of Rs 1,943 crore in the year-ago period.
Total income during the quarter increased to Rs 31,480 crore from Rs 23,280 crore in the year-ago period, BFL said in a regulatory filing.
During the quarter, its subsidiary Bajaj Allianz General Insurance reported a 39% jump in profit to Rs 576 crore.
Another subsidiary, Bajaj Allianz Life Insurance's profit increased to Rs 104 crore from Rs 94 crore in the same quarter a year ago.
Shares of Bajaj Finserv closed 0.29% lower at Rs 1,879 apiece, compared to the 0.87% decline in the benchmark NSE Nifty 50.
The stock has risen 14.97% in the last 12 months and 11.48% on a year-to-date basis. The total traded volume so far in the day stood at 1.42 times its 30-day average. The relative strength index was at 41.82.
Eight out of the 12 analysts tracking Bajaj Finserv have a 'buy' rating on the stock, two recommend a 'hold' and two suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 2.2%.
