[ad_1]
BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Bajaj Finserv Ltd.’s consolidated topline growth came in at ~16% YoY to Rs 20802 crore, primarily led by a healthy revival in the lending business.
Lower provisioning in the lending business and profitability in life insurance led to consolidated earnings at Rs 1556.9 crore; up 38.7% YoY.
In the lending business, assets under management growth at 30.8% YoY to Rs 218366 crore, with steady margins and steady opex and provision led to robust growth in earnings.
Gross non-performing asset and net non-performing asset were at 1.17% and 0.44% as of Q2 FY23 against 1.25% and 0.50%, respectively, as of Q1 FY23.
Bajaj Finserv’s gross written premium in general insurance declined 5% YoY to Rs 4781 crore. Excluding crop and government business, gross premium increased 13% YoY to Rs 3088 crore.
In H1 FY23, motor business grew 12% with two-wheeler growth at 23%, commercial vehicle at 14% and four-wheeler at 8%. Commercial lines business growth remained healthy at 15.3%.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
[ad_2]
Image and article originally from www.bqprime.com. Read the original article here.