HDFC Bank posts 20% growth in Q2 net profit; in line with industry estimates

Key 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.)