ICICI Direct: Bajaj Finserv Q2 Review - Steady Revival, Holdco Discount Remains Favourable
A Bajaj Finserv ad is displayed at an Apollo Speciality Hospital, operated by Apollo Hospitals Enterprises, stands in the Vanagaram area of Chennai, India. (Photographer: Dhiraj Singh/Bloomberg)

ICICI Direct: Bajaj Finserv Q2 Review - Steady Revival, Holdco Discount Remains Favourable

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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. reported steady traction in its lending business.

With slower premium accretion for Bajaj Finserv, consolidated topline was up 5.8% YoY to Rs 15052 crore, lower compared to earlier run rate, due to moderation in the lending business.

While the insurance business witnessed an improvement in earnings, contingent provisioning of Rs 1370 crore impacted consolidated earnings reported at Rs 986 crore, down 18% YoY.

Amid lockdown and risk aversion, asset under management remained flat at Rs 137300 crore. Subsequently, net interest income growth came in at 4% YoY to Rs 4158 crore.

Click on the attachment to read the full report:

ICICI Direct BajajFinserv Q2FY21 Result Update.pdf

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