Bajaj Finance beats estimates as Q2 net profit surges 88% to Rs 2,781 cr

The gross non-performing asset ratio, a measure of asset quality, eased to 1.17% at the end of September from 2.45% a year earlier

Bajaj Finance Ltd reported a record quarterly profit on Thursday, beating estimates on improved demand for loans and better asset quality.

Demand for credit has remained strong in India despite a series of interest rate hikes by the central bank in its fight against inflation, with both banks and shadow lenders reporting strong lending growth as consumers look to make more purchases.

Consolidated profit rose 88% to Rs 2,781 crore in the second quarter ended Sept. 30, from Rs 1,481 crore a year earlier, Bajaj Finance said in an exchange filing.

Analysts on average had expected a profit of Rs 2,680 crore, according