Bajaj Finserv Q3 Updates: General Insurance Premium At Rs 1,331 Crore

For the April-December 2024 period, the company reported an individual single premium of Rs 492.5 crore, an individual non-single premium of Rs 4,688.7 crore, and a group single premium of Rs 2,838.72 crore, bringing the total premium to Rs 8,503.9 crore.

In the second quarter ended September 2024, Bajaj Finserv's consolidated net profit rose 8% year-on-year to Rs 2,087 crore, while sequentially, the profit increased by 13%. The company's total income during the quarter rose 30% to Rs 33,704 crore.

Meanwhile, Bajaj Allianz Life Insurance Co. reported a 14% rise in new business premiums to Rs 3,202 crore.

Shares of Bajaj Finserv closed 0.97% down at Rs 1,684.60 apiece on the National Stock Exchange, compared to a 1.62% decline in the benchmark Nifty 50. The share price has fallen 0.69% in the last 12 months.

Eight out of the 11 analysts tracking the insurance company have a 'buy' rating on the stock, one recommends 'hold' and two suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 8.5%.