HDFC Bank Q2 net up 30.1 per cent

HDFC Bank,India8217;s No.2 private sector lender,reported a 30.1 per cent rise in quarterly net profit on Wednesday,beating forecast,helped by fee-based income.

The New York-listed bank posted a net profit of Rs 6.87 billion in the quarter to September compared with Rs 5.28 billion a year ago.

Ten analysts polled by Reuters had expected a net profit of Rs 6.6 billion.

Shares in the bank have risen 70.6 per cent so far this year,lagging a 78.2 per cent rise for the benchmark index and an 86.3 per cent rise for the sector index.