Bajaj Finserv Q1 Review - Elevated Provisioning, Higher Claims Impact Profit: ICICI Direct
Bajaj Finserv branch in Mahableshwar. (Source: BloombergQuint)

Bajaj Finserv Q1 Review - Elevated Provisioning, Higher Claims Impact Profit: ICICI Direct

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Bajaj Finserv Ltd.'s consolidated topline declined 2% YoY to Rs 13,949 crore, due to muted performance in lending business and higher re-insurance ceded.

Elevated provisioning in lending business and higher Covid-19 claims impacted Bajaj Finserv's earnings, which fell 31% YoY to Rs 833 crore.

In general insurance, gross written premium rose 9% YoY to Rs 2,494 crore. Growth in two-wheeler, four-wheeler remained strong at 23%, 10.3% YoY, respectively.

On claims, frequency in motor own damage claims remained slower compared to Q1 FY21. Motor third party claims settlement stayed moderate owing to lockdown.

Click on the attachment to read the full report:

ICICI Direct Bajaj Finserv Q1FY22 Results Update.pdf

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