BENGALURU (Reuters) – Indian non-banking financial company (NBFC) Bajaj Finance reported a smaller-than-expected 22.4% rise in third-quarter profit on Monday, as it set aside more money for bad loans.
The company’s consolidated profit after tax rose to 36.39 billion rupees (about $438 million) in the three months to Dec. 31, missing analysts’ average estimate of 37.56 billion rupees, according to LSEG data.
Consolidated numbers include the businesses of the lender’s subsidiaries, Bajaj Housing Finance and Bajaj Financial Securities.
($1 = 83.1300 Indian rupees)
(Reporting by Varun Vyas in Bengaluru; Editing by Savio D’Souza)
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