HDFC Bank posts 20% growth in Q2 net profit; in line with industry estimates
Net profit rose to Rs 4,151 crore ($634 million) in the three months ended September 30, from 3,455 crore a year earlier.
The headquarters of India''s HDFC bank is pictured in Mumbai. Photo: Reuters
By Reuters
Updated: Tue, Oct 24, 2017
01:05 pm
01:05 pm
Mumbai, Reuters
HDFC to raise Rs 2,500cr via bondsKey highlights:
- HDFC Bank Ltd on Tuesday reported a 20% rise in second-quarter profit
- This was almost in line with analysts' estimates
- Net profit rose to Rs 4,151 crore ($634 million) in the three months ended September 30
HDFC Bank Ltd, India's No.2 lender by assets, on Tuesday reported a 20% rise in second-quarter profit, almost in line with analysts` estimates.
Net profit rose to Rs 4,151 crore ($634 million) in the three months ended September 30, from 3,455 crore a year earlier, said the bank, India's second-most valuable company with a market capitalisation of about $87 billion.
That compared with average analysts' estimate of Rs 4,161 billion rupees, according to data compiled by Thomson Reuters.
Gross bad loans as a percentage of total loans stood at 1.26%, compared with 1.24% in the previous quarter and 1.02% a year earlier.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
