Bajaj Finserv Q2 FY26: Navigating Growth Amidst Regulatory Shifts

Bajaj Finserv Limited, a diversified financial services conglomerate, has reported a robust performance for the second quarter of Fiscal Year 2026, demonstrating resilience and strategic agility amidst evolving market dynamics and regulatory changes. The company, a prominent player in India's financial landscape, continues to leverage its integrated ecosystem to deliver sustainable growth across its various segments.

For Q2 FY26, Bajaj Finserv reported a consolidated total income of INR 37,403 crore, marking an impressive 11% year-on-year growth. The consolidated Profit After Tax (PAT) stood at INR 2,244 crore, an 8% increase from the previous year. Notably, excluding the transient impact of mark-to-market (MTM) gains and losses from its insurance subsidiaries, the underlying PAT growth was a healthier 12%, underscoring the strength of its core operations. This performance reflects the company's ability to maintain momentum while strategically adapting to new accounting regulations and market conditions.

Segmental Performance Highlights

The quarter saw varied but largely positive contributions from Bajaj Finserv's key subsidiaries:

Bajaj Finance (BFL): The lending arm continued its strong trajectory, with Assets Under Management (AUM) growing by 24% to INR 4,62,261 crore. Profit After Tax (PAT) for BFL increased by a healthy 23%. Operating expenses (OPEX) as a percentage of net total income improved to 32.6% from 33.2%, with management noting