India's Bajaj Finance misses Q2 profit view on higher bad loan provisions

BENGALURU, Oct 17 - Indian non-bank lender Bajaj Finance reported a smaller-than-expected rise in second-quarter profit on Tuesday, as provisions for bad loans increased.

Loan losses and provisions grew nearly 47% year-on-year in the quarter to 10.77 billion rupees, up from 7.34 billion rupees a year ago. The RBI has been cautioning lenders about nascent stress in this segment, urging them to adopt stronger risk management practices.

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