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Bajaj Finserv Ltd Q4 FY2020 consolidated PAT plunges to Rs. 194.43 crore

Posted On: 2020-05-21 13:48:10


BAJAJ FINSERV LTD. has reported financial results for the period ended March 31, 2020.

Financial Results (Q4 FY19-20) - QoQ Comparison

The company has reported total income of Rs.13294.25 crores during the period ended March 31, 2020 as compared to Rs.14560.74 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.194.43 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.1125.64 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.12.2 for the period ended March 31, 2020 as compared to Rs.70.7 for the period ended December 31, 2019.

FinancialsQ4 FY19-20Q3 FY19-20% Change
Total Income₹ 13294.25 crs₹ 14560.74 crsDown Tick -8.7%
Net Profit₹ 194.43 crs₹ 1125.64 crsDown Tick -82.73%
EPS₹ 12.2₹ 70.7Down Tick -82.74%

Financial Results (Q4 FY19-20) - YoY Comparison

The company has reported total income of Rs.13294.25 crores during the period ended March 31, 2020 as compared to Rs.12994.52 crores during the period ended March 31, 2019.

The company has posted net profit / (loss) of Rs.194.43 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.838.74 crores for the period ended March 31, 2019.

The company has reported EPS of Rs.12.2 for the period ended March 31, 2020 as compared to Rs.52.7 for the period ended March 31, 2019.

FinancialsQ4 FY19-20Q4 FY18-19% Change
Total Income₹ 13294.25 crs₹ 12994.52 crsUp Tick 2.31%
Net Profit₹ 194.43 crs₹ 838.74 crsDown Tick -76.82%
EPS₹ 12.2₹ 52.7Down Tick -76.85%

Financial Results (12 months ended FY 19-20) - YoY Comparison

The company has reported total income of Rs.54351.47 crores during the 12 months period ended March 31, 2020 as compared to Rs.42605.57 crores during the 12 months period ended March 31, 2019.

The company has posted net profit / (loss) of Rs.3369.13 crores for the 12 months period ended March 31, 2020 as against net profit / (loss) of Rs.3219.04 crores for the 12 months period ended March 31, 2019.

The company has reported EPS of Rs.211.7 for the 12 months period ended March 31, 2020 as compared to Rs.202.3 for the 12 months period ended March 31, 2019.

FinancialsYear Ended FY19-20Year Ended FY18-19% Change
Total Income₹ 54351.47 crs₹ 42605.57 crsUp Tick 27.57%
Net Profit₹ 3369.13 crs₹ 3219.04 crsUp Tick 4.66%
EPS₹ 211.7₹202.3Up Tick 4.65%

Bajaj Finserv Limited (BFS) is the holding company for the various financial services businesses under the Bajaj group. It serves millions of customers in the financial services space by providing solutions for asset acquisition through financing, asset protection through general insurance, family protection and income protection in the form of life and health insurance and retirement and savings solutions.

BFS participates in the financing business through its 52.82% holding in Bajaj Finance Limited (BFL) and in the protection business through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company Limited (BAGIC) and Bajaj Allianz Life Insurance Company Limited (BALie). Bajaj Housing Finance Limited (BHFL), which does mortgage business, is a wholly-owned subsidiary of Bajaj Finance Limited. During the year, BFL completed raising of capital from Qualified Institutional Buyers, consequent to which shareholding of BFS reduced from 54.81% to 52.82%.

Even without the terrible effects of the COVID-19 pandemic, India's GDP growth had shown clear signs of slowing down. To fight COVID-19 impact, RBI unveiled significant measures of repo rate reduction of 0.75%, CRR reduction by 1% and targeted long term repo operations (TLTRO) in March 2020. Even as economic conditions remained difficult, all the three businesses performed well till February 2020. However, the nationwide lockdown enforced from 25 March 2020 and the moratorium on loan instalments for customers of banks and NBFCs, announced by RBI impacted performance for the month of March 2020. As new car sales came to a standstill and since IRDAI provided customers time till lS May 2020 to pay renewal premiums for policies expiring after 24 March 2020, growth of general insurance industry was affected in March. The life insurance industry also recorded a steep fall in new business in the month of March as a substantial amount of business seasonally is written in the last few days of March.

The spread of the COVID-19 pandemic resulted in a sudden and steep fall in the value of shares traded on the stock exchanges. In Q4 FY20 the Nifty 50 Index and the BSE 200 index lost 29%. Under Ind AS, the insurance subsidiaries have chosen to hold equity securities as Fair Value Through Profit and Loss Account and therefore, the insurance companies had an unrealised mark-to-market (MTM) pre-tax loss of Rs. 768 crore in the consolidated financials.

Additionally, BFL made a pre-tax provision of Rs. 900 crore in the form of contingency provision on account of the impact of COVID-19.

The MTM adjustment and the contingency provision, together considered as COVID-19 impact, after adjusting for tax and the Company's interest In those subsidiaries have impacted consolidated profit after tax of BFS for Q4 and FY20 by Rs. 807 crore.

Shares of BAJAJ FINSERV LTD. was last trading in BSE at Rs.4708.95 as compared to the previous close of Rs. 4540.55. The total number of shares traded during the day was 22128 in over 3734 trades.

The stock hit an intraday high of Rs. 4735.85 and intraday low of 4534.35. The net turnover during the day was Rs. 102149353.


Source: Equity Bulls

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