HDFC Bank Q2 profit rises 20 percent

HDFC Bank Ltd, India`s No.2 lender by assets, on Tuesday reported a 20 percent rise in second-quarter profit, almost in line with analysts` estimates.

Net profit rose to 41.51 billion rupees ($634 million) in the three months ended Sept. 30, from 34.55 billion rupees a year earlier, said the bank, India`s second-most valuable company with a market capitalisation of about $87 billion. (http://bit.ly/2gzG5qk)

That compared with average analysts` estimate of 41.61 billion rupees, according to data compiled by Thomson Reuters.

Gross bad loans as a percentage of total loans stood at 1.26 percent, compared with 1.24 percent in the previous quarter and 1.02 percent a year earlier.

($1 = 64.9625 Indian rupees)

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)