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
(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.