The country’s third-largest private lender by market capitalisation posted a standalone net profit of 32.53 billion rupees ($370.1 million) for the three months ended on September 30, compared with 33.44 billion rupees a year earlier.
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Analysts had expected a profit of 34.49 billion rupees, according to data compiled by LSEG.
Funds kept aside for potential bad loans and other losses rose 43% to 9.47 billion rupees, weighing down the bottom line.
Net interest income rose 4% to 73.11 billion rupees, aided by a 14% rise in loans. The lender’s corporate loans, which make up a fifth of its loan book, grew the fastest at 17%, while consumer loans, with a 47% share of total loans, grew 16%.
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