HDFC Bank Q2 profit up 20 per cent at Rs 2,381.5 crorehttps://indianexpress.com/article/business/banking-and-finance/hdfc-bank-q2-profit-up-20-per-cent-at-rs-2381-5-crore/

HDFC Bank Q2 profit up 20 per cent at Rs 2,381.5 crore

HDFC Bank today reported a 20 per cent rise in its September quarter net profit to Rs 2,381.5 crore.

HDFC Bank today reported a 20 per cent rise in its September quarter net profit to Rs 2,381.5 crore.

The bank had earned Rs 1982.32 crore net profit in July-September quarter of the last fiscal, HDFC said in a filing to the stock exchanges.

Bank’s total income was at Rs 13,894.7 crore in Q2, up from Rs 11,937.7 crore in the same period last year.

HDFC said September-quarter provisions was up at Rs 455.9 crore as against Rs 385.9 crore in the corresponding period of previous fiscal.

HDFC Bank Q2 profit up 20 pct, lags estimates

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(Reuters) HDFC Bank Ltd, India’s second-biggest private sector lender by assets, on Tuesday reported a 20 percent rise in quarterly net profit, lagging estimates, due to higher tax expenses and provisioning for loan losses.

Net profit rose to 23.81 billion rupees ($388.51 million) in its fiscal second quarter to Sept. 30, from 19.82 billion rupees a year earlier, the Mumbai-headquartered bank said in a statement.

Analysts had on average expected a net profit of 24.25 billion rupees, according to data compiled by Thomson Reuters.