Bajaj Finserv Q2 FY27 results: what the company reported
Bajaj Finserv Limited, the holding company for the Bajaj group's lending and insurance businesses, filed its unaudited results for the quarter ended 30 September 2026 (July to September 2026, called Q2 FY27) with NSE on 3 November 2026, the day its board approved them. The filing includes a press release.
Published 5 November 2026 · Potoos Research Services
In short. For July to September 2026, Bajaj Finserv reported consolidated total income of Rs 43,415.65 crore, up 16.7% from Rs 37,214.56 crore a year earlier, and a consolidated profit of Rs 5,952.01 crore, up 25.4%. Of that profit, Rs 2,757.66 crore belongs to Bajaj Finserv's own shareholders, up 22.9% from Rs 2,244.10 crore.
Why there are two profit numbers
Bajaj Finserv does not run the lending or insurance business itself. It owns shares in the companies that do. The filing lists its holdings: 51.30% of Bajaj Finance Limited, and 77.33% each of Bajaj Life Insurance Limited and Bajaj General Insurance Limited.
The consolidated results add up these companies in full. So the consolidated profit of Rs 5,952.01 crore includes the part that belongs to the other shareholders of those companies. The filing calls that part “non-controlling interests”: Rs 3,194.35 crore this quarter. The part that belongs to Bajaj Finserv's shareholders is the “owners of the company” line, Rs 2,757.66 crore. Earnings per share is worked out on the owners' part.
The numbers
The first two tables are consolidated, in Rs crore, as printed in the company's statement of consolidated results. The change column is worked out by us from the filing's own numbers.
| Item | Jul to Sep 2026 | Jul to Sep 2025 | Change |
|---|---|---|---|
| Revenue from operations | 43,415.65 | 37,214.56 | +16.7% |
| Total income | 43,415.65 | 37,214.56 | +16.7% |
| Profit after tax (whole group) | 5,952.01 | 4,746.47 | +25.4% |
| Profit attributable to owners of the company | 2,757.66 | 2,244.10 | +22.9% |
| Basic EPS (Rs) | 17.22 | 14.05 | +22.6% |
| Item | Apr to Sep 2026 | Apr to Sep 2025 | Change |
|---|---|---|---|
| Revenue from operations | 85,452.55 | 72,502.32 | +17.9% |
| Total income | 85,452.55 | 72,514.58 | +17.8% |
| Profit after tax (whole group) | 12,248.68 | 10,075.64 | +21.6% |
| Profit attributable to owners of the company | 5,890.01 | 5,033.15 | +17.0% |
| Basic EPS (Rs) | 36.79 | 31.51 | +16.8% |
The filing shows no other income in either quarter, so total income equals revenue from operations there. There were no exceptional items in the quarter or the half year, in either year.
Bajaj Finserv on its own (standalone)
Standalone figures cover Bajaj Finserv Limited alone. As a holding company, most of its income is dividends from the companies it owns: Rs 1,916.19 crore of its Rs 2,005.66 crore revenue this quarter.
| Item | Jul to Sep 2026 | Jul to Sep 2025 | Change |
|---|---|---|---|
| Revenue from operations | 2,005.66 | 1,472.51 | +36.2% |
| Total income | 2,047.15 | 1,481.28 | +38.2% |
| Profit after tax | 1,458.53 | 1,085.18 | +34.4% |
| Basic EPS (Rs) | 9.11 | 6.79 | +34.2% |
For the half year, standalone profit after tax was Rs 2,576.13 crore, against Rs 1,415.10 crore, a change of +82.0%. The standalone notes say the company wrote back Rs 20.14 crore of tax provision for the year ended 31 March 2026 during the half year (note 6).
What the company said
The press release is part of the results filing on NSE. In its highlights table, it shows each main company's own figures, in Rs crore. These are the whole figures of each company, not Bajaj Finserv's share of them:
| Item | Q2 FY27 | Q2 FY26 |
|---|---|---|
| Bajaj Finance, consolidated profit after tax | 6,367 | 4,948 |
| Bajaj General, profit after tax | 420 | 517 |
| Bajaj Life, net value of new business (VNB) | 512 | 367 |
The press release says Bajaj General and Bajaj Life figures are under Indian GAAP, while the other figures are under Ind AS. VNB is a life insurance measure: the press release describes it as the present value of the future profits on new business written in the period.
“Its quarterly consolidated profit after tax increased by 29%, while its subsidiaries, BHFL recorded a growth of 18% and BFSL a growth of 36% in profit after tax.”
Bajaj Finserv press release on Bajaj Finance (BFL), 3 November 2026
In the quote above, BHFL is Bajaj Housing Finance Limited and BFSL is Bajaj Financial Securities Limited. The press release also shows its own adjusted view of the owners' profit. It removes unrealised mark-to-market gains or losses on the insurers' investments and adds back realised equity gains that are booked outside the profit and loss account. On that basis, the press release shows Rs 2,978 crore for Q2 FY27 against Rs 2,449 crore. This is the company's own measure; the statutory owners' profit is the Rs 2,757.66 crore in the table above. It also puts losses from its newer businesses (Bajaj Finserv Health, Bajaj Finserv Direct, Bajaj Asset Management and Bajaj Alternate Investment Management) at Rs 144 crore for the quarter.
What the notes and auditors said
- On 1 October 2026, Bajaj Finance's board approved two separate proposals to raise money: up to Rs 11,700 crore through a Qualified Institutions Placement (QIP, a sale of shares to large institutional investors), and an issue of warrants (which convert into shares) to Bajaj Finserv for up to Rs 5,800 crore. Bajaj Finserv's notes say it intends to subscribe to warrants for up to Rs 5,800 crore. Both proposals need regulatory and other approvals, including approval of Bajaj Finance's shareholders.
- On 6 August 2026, 1,511,358 shares with a face value of Rs 1 each were allotted to Bajaj Finserv's employee stock option plan (ESOP) trust.
- The figures are unaudited. The statutory auditors, kkc & associates llp, carried out a limited review, which is lighter than a full audit. The cover letter says the review reports are unmodified. The consolidated report includes “other matter” paragraphs saying it relied on the appointed actuaries' certificates for the insurance companies' policy liabilities and on other auditors for four subsidiaries; it says its conclusion is not modified in respect of these matters. There is no emphasis of matter.
Dates
- Board meeting: 3 November 2026 (started 10:30 a.m. IST, ended 12:40 p.m. IST). The board approved the results that day.
- Filed with NSE: 3 November 2026 at 12:48 IST, with the press release inside the same filing. The investor presentation followed at 13:22 IST.
- Dividend: none declared in this filing.
Holding company: a company whose main business is owning shares in other companies. Bajaj Finserv's own (standalone) income is mostly the dividends those companies pay it.
Consolidated and standalone: consolidated figures add up Bajaj Finserv and the companies it controls as one group. Standalone figures cover Bajaj Finserv Limited alone.
Non-controlling interests: the share of a subsidiary's profit that belongs to its other shareholders, not to the parent company.
Rs crore: one crore is one hundred lakh, or ten million rupees. The filing reports in crore, so this page does too.
Source
- Bajaj Finserv, outcome of board meeting with unaudited standalone and consolidated results, limited review reports and press release, 3 November 2026. nsearchives.nseindia.com
- Bajaj Finserv, investor presentation, 3 November 2026. nsearchives.nseindia.com
This page was written by Potoos Research Services, a SEBI-registered Research Analyst (INH000027380) in Chennai. Every figure above is copied from the company's filing, and every percentage change is worked out from the filing's own numbers.
This page reports what the company filed. It is not a recommendation to buy, sell or hold.
Common questions
What was Bajaj Finserv's profit in Q2 FY27?
Consolidated profit after tax for July to September 2026 was Rs 5,952.01 crore, against Rs 4,746.47 crore a year earlier, a change of +25.4%. The part attributable to Bajaj Finserv's own shareholders was Rs 2,757.66 crore, against Rs 2,244.10 crore, a change of +22.9%.
Why is Bajaj Finserv's owners' profit less than half of its consolidated profit?
Bajaj Finserv owns 51.30% of Bajaj Finance and 77.33% of its two insurance companies. The consolidated profit counts those companies in full; Rs 3,194.35 crore of this quarter's profit belongs to their other shareholders (non-controlling interests).
Are Bajaj Finance's results the same as Bajaj Finserv's?
No. Bajaj Finance is a separate listed company that Bajaj Finserv holds 51.30% of. The Bajaj Finserv press release shows Bajaj Finance's consolidated profit after tax at Rs 6,367 crore for the quarter; Bajaj Finserv's own consolidated figures are the ones in the tables on this page.
Did Bajaj Finserv declare a dividend with these results?
No dividend was declared in the results filing of 3 November 2026.
Is this page a recommendation?
No. It reports what the company filed. It is not a recommendation to buy, sell or hold.