Bajaj Finance Q2 results came in on Monday, October 19, 2026, and the headline is a clean one: consolidated profit after tax rose 29% year on year to ₹6,367 crore in the September quarter, up from ₹4,948 crore a year ago. The more interesting number sits a few lines lower. The company set aside an extra ₹337 crore as a cushion for management and macroeconomic risks, and without it, profit would have grown 34% to ₹6,619 crore. That’s from the results filing and press release on BSE.
A quick note on why you may have seen two profit figures. The ₹6,367 crore is total consolidated profit. The share that belongs to Bajaj Finance’s own shareholders, after taking out the minority stake in Bajaj Housing Finance (BFL owns 86.70% of it), was ₹6,266 crore, against ₹4,875 crore last year. On a standalone basis, profit rose 30% to ₹5,536 crore from ₹4,251 crore.
Bajaj Finance Q2 results: the growth numbers
Growth was broad. Consolidated assets under management (AUM) rose 26% to ₹5,84,624 crore as of September 30, 2026, from ₹4,62,261 crore a year earlier. The book added ₹37,680 crore in this quarter alone.
- Net interest income grew 24% to ₹13,335 crore from ₹10,785 crore.
- Net total income grew 23% to ₹15,974 crore from ₹12,982 crore.
- New loans booked rose 11% to 13.45 million from 12.17 million.
- The customer franchise reached 128.85 million, up 16%, with 4.42 million customers added during the quarter.
Returns improved slightly too. Annualised return on assets was 4.6% against 4.5%, and return on equity was 20.6% against 19.1%. Operating expenses took 33.0% of net total income, almost the same as 33.1% a year ago.
Credit costs: lower, with a buffer on top
Loan losses and provisions came to ₹2,166 crore, up from ₹2,080 crore. Strip out the ₹337 crore buffer and they were ₹1,829 crore, which is 12% lower than a year ago. As a share of average assets under finance, credit cost fell to 1.56% from 1.88%, or 1.32% without the extra provision.
Gross and net NPAs were 1.06% and 0.42%, better than 1.24% and 0.60% a year ago. But CNBC-TV18 points out that both ticked up from the June quarter, when they were 0.96% and 0.39%. The rise is small, but put it next to the extra ₹337 crore buffer and it tells us management is being careful. We’d watch both next quarter. Provision coverage on stage 3 assets was 60%, and the capital adequacy ratio was 20.33%, with Tier-I at 19.43%.
Guidance and the stock
According to CNBC-TV18, the company expects to book 60-62 million new loans and add 18-20 million customers in FY27, and plans 150-175 new locations. Its cost of funds fell nine basis points from the previous quarter to 7.31%, and it expects operating expenses as a share of net total income to improve by 25-40 basis points this year.
The stock went into the results on the back foot. Shares closed 2.5% lower at ₹957.35 on Monday before the numbers came out, which left them down 1.6% for the calendar year and more than 11% lower over the past 12 months, CNBC-TV18 reported. Tuesday’s trade will show whether the market looks at the 29% headline or the 34% underlying growth.
The housing finance arm’s own numbers came out a few days earlier; our Bajaj Housing Finance Q2 results post has them. For the other companies that reported on Monday, see the Q2 results line-up for October 19, and if you want to read a results release like this one yourself, our guide on how to analyse quarterly results walks through it.
Disclaimer: This article is for information only and is not investment advice or a recommendation to buy or sell any security. Figures are from Bajaj Finance’s Q2 FY27 results filing with BSE and CNBC-TV18’s report, linked above. Please consult a SEBI-registered investment adviser before making any investment decision.
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