Bajaj Finance Ltd, India’s leading non-banking financial company (NBFC), announced its financial results for the second quarter of FY26 on November 10, 2025, showcasing yet another strong performance across key metrics. The company reported a 22% year-on-year (YoY) increase in consolidated net profit, reaching ₹4,875 crore for the quarter ended September 2025, compared to ₹4,000 crore in the same period last year.
While the profit figure missed Street estimates of ₹4,969 crore, it reflected the company’s continued resilience and operational efficiency amid a dynamic credit environment.
Revenue and Income Growth
During the July–September quarter, Bajaj Finance’s revenue from operations rose 18.7% YoY to ₹17,796 crore, up from ₹14,987 crore in the year-ago period. The company’s total income stood at ₹20,180.76 crore, marking a healthy rise from ₹17,095.41 crore in Q2FY25.
The net interest income (NII) also climbed 22% YoY to ₹10,785 crore from ₹8,838 crore, highlighting the company’s strong growth in lending activities and interest spreads. Pre-provisioning operating profit rose 21% YoY to ₹8,874 crore compared with ₹7,307 crore in the same quarter last year.
Loan Book Expansion and Customer Growth
Bajaj Finance continued to expand its lending footprint during the quarter. The company booked 1.22 crore new loans in Q2FY26, up 26% from 97 lakh loans in the year-ago quarter.
Its customer franchise stood at 11.06 crore as of 30 September 2025, representing a 20% increase from 9.21 crore customers a year earlier. Notably, Bajaj Finance added 41.3 lakh new customers during the July–September period, underlining its growing consumer reach across retail and digital lending segments.
Asset Quality and Provisions
The company’s asset quality remained largely stable, though with a slight uptick. Gross non-performing assets (NPA) stood at 1.24%, while net NPA was reported at 0.60%, compared with 1.06% and 0.46% respectively as of 30 September 2024.
Loan losses and provisions rose 19% YoY to ₹2,269 crore from ₹1,909 crore, with the annualised loan losses and provisions to average assets under finance at 2.05%. The provisioning coverage ratio on stage 3 assets stood at 52%, reflecting prudent risk management practices.
Capital Adequacy
Bajaj Finance maintained a strong capital position with a capital adequacy ratio (CRAR), including Tier-II capital, at 21.23% as of 30 September 2025. Tier-I capital was robust at 20.54%, ensuring sufficient headroom for business expansion and credit growth.
Overall Performance Snapshot
| Metric | Q2FY26 | Q2FY25 | YoY Change |
| Net Profit (₹ crore) | 4,875 | 4,000 | +22% |
| Revenue from Operations (₹ crore) | 17,796 | 14,987 | +18.7% |
| Total Income (₹ crore) | 20,180.76 | 17,095.41 | +18% |
| Net Interest Income (₹ crore) | 10,785 | 8,838 | +22% |
| Pre-Provision Operating Profit (₹ crore) | 8,874 | 7,307 | +21% |
| New Loans Booked (crore) | 1.22 | 0.97 | +26% |
| Customer Franchise (crore) | 11.06 | 9.21 | +20% |
| Gross NPA | 1.24% | 1.06% | — |
| Net NPA | 0.60% | 0.46% | — |
| CRAR (including Tier-II) | 21.23% | — | — |
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Conclusion
Bajaj Finance’s Q2FY26 performance underscores its steady growth trajectory and strong fundamentals across lending, customer acquisition, and asset quality. Despite marginal pressure on provisions, the company remains well-capitalised and positioned to sustain momentum in the coming quarters.
The combination of a diversified loan book, prudent risk management, and continued focus on digital and retail growth reinforces Bajaj Finance’s standing as one of India’s most trusted and dynamic NBFCs.
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