Bajaj Finserv Q2 Profit Up 8% to Rs 2,087 Crore

New Delhi, Oct 23 (PTI) Bajaj Finserv on Wednesday reported an 8 per cent rise in its consolidated net profit to Rs 2,087 crore for the second quarter ended September 30.

The company had posted a profit of Rs 1,929 crore in the July-September quarter a year ago.

The total consolidated income increased to Rs 33,704 crore during the quarter against Rs 26,023 crore in the same period a year earlier, Bajaj Finserv said in a regulatory filing.

The Pune-headquartered company's total expenditure rose to Rs 27,741 crore compared to Rs 20,731 crore in the year-ago period.

Bajaj Finserv Asset Management recorded assets under management (AUM) of Rs 16,293 crore as on September 30, 2024.

Its subsidiary Bajaj Allianz General Insurance Company Ltd reported a profit of Rs 494 crore from Rs 468 crore in Q2 FY24, an increase of 6 per cent.

Another subsidiary Bajaj Allianz Life Insurance Company Ltd posted shareholders' profit after tax at Rs 148 crore down from Rs 193 crore in Q2 FY24 due to new business strain, higher expense overruns and change in product mix.