Total income during the quarter increased by 23% YoY to Rs 18,862 crore.

Profit before tax in Q4 FY22 stood at Rs 3,462 crore, up by 47% from Rs 2,359 crore in Q4 FY21.

Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. It participates in the financing business through its 52.65% holding in Bajaj Finance and in the protection business through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company.

Bajaj Finance recorded 80% increase in consolidated net profit to Rs 2,420 crore in Q4 FY22 over Q4 FY21, mainly on account of robust AUM growth, higher net interest income and better asset performance.

Total income for Q4 FY22 rose by 26% to Rs 8,630 crore from Rs 6,855 crore in Q4 FY21.

Assets Under Management (AUM) as at 31 March 2022 were Rs 197,452 crore as against Rs 152,947 crore as at 31 March 2021, registering an increase of 29% YoY.

Gross NPA and Net NPA as of 31 March 2022 stood at 1.60% and 0.68%, respectively, as against 1.79% and 0.75% as of 31 March 2021. Provisioning coverage ratio of 58% is there on stage 3 assets. BFL holds a management and macro-economic overlay of Rs 1,060 crore as at 31 March 2022 as compared with Rs 840 crore as at 31 March 2021.

Capital adequacy ratio (including Tier-II capital) as of 31 March 2022 was 27.22%. The Tier-I capital stood at 24.75%.

Bajaj Allianz General Insurance Company's gross written premium for Q4 FY22 increased by 18% to Rs 3,300 crore as against Rs 2,787 crore in Q4 FY21. The company wrote crop & government health insurance of Rs 429 crore (up 4.5x YoY) in Q4 FY22. Net earned premium increased by 11% YoY to Rs 1,988 crore in Q4 FY22.

The claim ratio increased to 68.8% in Q4 FY22 from 64.3% in Q4 FY21, mainly due to an increase in the severity of non-Covid health claims. The combined ratio was 98.3% in Q4 FY22 as against 96.6% in Q4 FY21.

Profit after tax for Q4 FY22 stood at Rs 248 crore, down by 9% from Rs 273 crore in Q4 FY21.

As on 31 March 2022, solvency ratio was 344%, which is well above the minimum regulatory requirement of 150%. Assets Under Management (AUM), represented by cash and investments as on 31 March 2022 stood at Rs 24,633 crore (up 6% YoY).

Bajaj Allianz Life Insurance Company recorded 30% increase in new business premium to Rs 3,236 crore in Q4 FY22 from Rs 2,493 crore in Q4 FY21. The renewal premium for Q4 FY22 was Rs 2,483 crore (up 24% YoY).

Gross written premium for Q4 FY22 increased by 27% to Rs 5,719 crore from Rs 4,501 crore in Q4 FY21.

Shareholders' profit after tax during Q4 FY22 stood at Rs 48 crore, down by 79% from Rs 234 crore in Q4 FY21, impacted mainly due to higher new business strain and lower investment income.

The solvency ratio stood at a healthy 581% as on 31 March 2022 as against the minimum regulatory requirement of 150%. Assets Under Management (AUM}, represented by total investments increased by 16% to Rs 85,623 crore as on 31 March 2022 as against Rs 73,773 crore as on 31 March 2021.

“Business conditions improved significantly in Q4 of FY22 although they were volatile due to the outbreak of war in Ukraine. Although lower sales of automobiles due to supply chain problems affected the general insurance business, the overall environment was conducive and all our businesses recorded excellent growth,” Bajaj Finserv said in a statement.

The company reported 2% rise in consolidated net profit to Rs 4,557 crore on a 13% increase in total income to Rs 68,439 crore in FY22 over FY21.

The company's board has recommended a dividend of Rs 4 per share. The total amount of dividend is Rs 64 crore as against Rs 48 crore in the same period last year.