BAJAJFINSV

Q3 Results: Net profit remains flat at ₹2,229 crore on higher provisions, labour code costs

Bajaj Finserv, the holding company for the various financial services businesses under the Bajaj group, announced its December-quarter results on Wednesday, February 4, reporting a consolidated net profit of ₹2,229 crore, largely unchanged from ₹2,231 crore posted in the year-ago quarter. The company’s consolidated total income rose to ₹39,708 crore, marking a 24% increase over ₹32,042 crore reported in the year-ago quarter. Despite the higher total income, the bottom line was impacted by elevated provisions, including an accelerated expected credit loss (ECL) charge of ₹1,406 crore and a one-time gratuity-related expense of ₹379 crore arising from the implementation of new labour codes.