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• Consolidated Total Income: Grew 14% to INR36,596 crores, up from INR32,042 crores year-over-year.

• Consolidated Profit After Tax (PAT): Increased 14% to INR2,417 crores, up from INR2,119 crores year-over-year.

• Gross Written Premium (GWP) - Bajaj Allianz General Insurance (Magic): Decreased 13% to INR4,326 crores from INR4,962 crores year-over-year.

• Profit After Tax - Magic: Decreased 4% to INR363 crores from INR380 crores year-over-year.

• Return on Equity (ROE) - Magic: 12.5% compared to 14.5% year-over-year.

• Combined Ratio - Magic: 104.8% compared to 101.6% year-over-year.

• Gross Written Premium (GWP) - Bajaj Allianz Life Insurance (Bali): Increased 13% to INR9,237 crores from INR8,184 crores year-over-year.

• Profit After Tax - Bali: Decreased 61% to INR41 crores from INR106 crores year-over-year.

• Value of New Business (VNB) - Bali: Increased 14% to INR549 crores from INR480 crores year-over-year.

• Consolidated Total Income - Bajaj Finance Limited (BFL): Grew 23% to INR11,917 crores from INR9,714 crores year-over-year.

• Consolidated PAT - BFL: Increased 17% to INR4,480 crores from INR3,825 crores year-over-year.

• Return on Equity (ROE) - BFL: Stable at approximately 19%.

• Assets Under Management (AUM) - Bajaj Housing Finance Limited (BHFL): Grew 26% to INR1,14,600 crores from INR91,370 crores year-over-year.

• Net Interest Income - BHFL: Increased 31% to INR823 crores from INR629 crores year-over-year.

• Profit After Tax - BHFL: Grew 54% to INR587 crores from INR381 crores year-over-year.

• Capital Adequacy - BHFL: 28.24% as of March '25.

• Assets Under Management (AUM) - Bajaj Finserv Asset Management Company: Exceeded INR20,000 crores, up 17% from the previous quarter.

• Warning! GuruFocus has detected 7 Warning Signs with BOM:532978.

Release Date: April 30, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Bajaj Finserv Ltd (BOM:532978) reported a 14% growth in consolidated total income for Q4 FY25, reaching INR36,596 crores.

• The consolidated profit after tax (PAT) also grew by 14% to INR2,417 crores compared to the same period last year.

• Bajaj Finance Limited (BFL) saw a 23% increase in consolidated total income, reaching INR11,917 crores, with a 17% growth in consolidated PAT.

• Bajaj Housing Finance reported a 26% growth in AUM, with a 54% increase in profit after tax for the quarter.

• Bajaj Finserv Health expanded its provider network significantly, enhancing its service offerings and increasing health transactions to 28 lakh in Q4 FY25.

Negative Points

• Bajaj Allianz General Insurance (Magic) experienced a 13% decline in gross written premium (GWP) due to changes in accounting regulations and timing variances.

• Bajaj Allianz Life Insurance (Valik) reported a 61% decline in profit after tax, impacted by lower realized gains and higher tax provisioning.

• The combined ratio for Magic increased to 104.8% from 101.6% last year, indicating higher expenses relative to premiums earned.

• Valik's new business growth was muted, affected by new surrender regulations and stock market volatility.

• The insurance segment faced challenges with regulatory changes and market conditions impacting growth and profitability.