Q1FY22 Result Update - Bajaj Finserv - ICICI Direct

Earnings impacted by elevated provision & claims in Q1FY22.

- Consolidated revenue de-grew ~2% YoY; PAT declined 31% YoY

- AUM grew 15% YoY to Rs. 159057 crore; elevated provision impacted PAT

- GWP increased 9% YoY to Rs. 2494 crore; Covid led to higher claim at 75.9%

- Life premium grew 48% YoY to Rs. 2516 crore; PAT impacted by Covid claim

Key triggers for future price performance

- Expect 20%, 22% AUM growth for FY22E, FY23E, PAT growth of 30%, 45%, respectively

- Expect asset quality to stabilise post unlock by Q4FY22

- Robust premium growth & selective product mix to aid business growth & earnings in life & general insurance business

- Higher Covid claims claim remain a near term overhang

For details, click on the link below: Link to the report

Shares of BAJAJ FINSERV LTD. was last trading in BSE at Rs. 13059.85 as compared to the previous close of Rs. 12591.4. The total number of shares traded during the day was 20328 in over 4720 trades.

The stock hit an intraday high of Rs. 13099.95 and intraday low of 12348. The net turnover during the day was Rs. 262225136.

Source : Equity Bulls

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