The revenue from life insurance increased 17% to Rs 1739.21 crore, while the revenue from home general insurance moved up 10% to Rs 1892.39 crore in the quarter ended December 2017. However, the investment and other income from insurance business declined 3% to Rs 861.98 crore. The revenue from retail financing jumped 33% to Rs 3579.33 crore, while the revenue in windmill segment surged 138% to Rs 17.64 crore.

PBT from general insurance increased 29% to Rs 391.46 crore, but from life insurance segment declined 15% at Rs 184.04 crore in Q3FY2018. Retail Finance segment reported 37% jump in PBT at Rs 1185.46 crore, while the windmill posted 409% increase in PBT to Rs 9.36 crore in Q2FY2018.

Performance for the quarter ended December 2017

Overall OPM improved to 38.59% in Q3FY2018 from 37.32% in Q3FY2017, as other expenditure as a percentage of net sales eased to 53% from 55.7%. However, the staff cost as a percentage of net sales also rose to 5.1% from 4.2%.

Interest cost increased 22% to Rs 1167.84 crore. PBT increased 28% to Rs 1763.53 crore in the quarter ended December 2017. The effective tax rate rose to 31.8% from 31%. Minority interest jumped 35% to Rs 454.86 crore in Q3FY2018. Net Profit, after minority interest and share of profit of associates improved 22% to Rs 748.59 crore in the quarter ended December 2017.

Book value of the company stood at Rs 1257.2 per share at end December 2017.

YTD Financial Performance:

For the nine months ended December 2017 (9MFY2018), the consolidated net revenue of the company increased 25% to Rs 21769.59 crore. The revenue in general insurance was up 24% to Rs 6722.46 crore and life insurance revenues increased 25% to Rs 4908.37 crore. The investment and other revenues from insurance business rose 3% to Rs 2655.94 crore. The retail finance revenues jumped 34% to Rs 9817.02 crore. The overall OPM eased to 37.22%, allowing 23% rise in the operating profit to Rs 8103.67 crore in 9MFY2018 over 9MFY2017.

With 21% rise interest cost at Rs 3335.05 crore and depreciation at Rs 73.78 crore, PBT increased 25% to Rs 4769.09 crore in 9MFY2018. The effective tax rate eased to 31.3% in 9MFY2018 from 29.9% in 9MFY2017. Net Profit after minority interest and share in associates moved up 19% yoy to Rs 2055.98 crore in 9MFY2018.

Bajaj Finance

Total income increased 35% to Rs 3543.3 crore, while PAT moved up 38% to Rs 766.8 crore in Q3FY2018. AUM increased 35%, on yoy basis, to Rs 77970 crore at the end December 2017 from Rs 57605 crore at end December 2016. On 90 days past dues basis, GNPA ratio was nearly steady at 1.67% and NNPA at 0.53%, compared with 1.68% and 0.51%, respectively at end September 2017. The capital adequacy ratio of the company stood at 24.84% with the Tier ratio at 19.60% at end December 2017.

Bajaj Allianz General Insurance Company

Gross written premium for Q3FY18 increased to Rs 1892.4 crore from Rs 1721.6 crore in Q3FY17. Net earned premium moved up to Rs 1486.1 crore from Rs 1258.8 crore. Profit after tax increased 33% to Rs 261.7 crore in Q3FY2018 from Rs 197.1 crore in Q3FY2017. Combined ratio stood at 88.8% in Q3FY18, against 94.3% in Q3FY17. The solvency ratio stood at 313% end December 2017, which is well above the normal regulatory requirement of 150%.

Bajaj Allianz Life Insurance Company

Individual rated premium grew by 28% in to Rs3 64.8 crore in Q3FY18. Gross written premium moved up 17% to Rs 1739.2 crore. Group new business was Rs 568.5 crore in Q3FY18 v/s Rs 486 crore in Q3FY17. Renewal premium was Rs 795.6 crore in Q3FY18, up from Rs 699.9 crore in Q3FY17. Shareholders' profit after tax declined 15% to Rs 162.9 crore in Q3FY2018. Solvency ratio stood at a healthy 600% end December 2017, as against the minimum regulatory requirement of 150%. Total investments stood at Rs 52401 crore end December 2017, up 12% from Rs 46806 crore end December 2016.