HDFC Bank Q4 net profit rises 18 pct, bad loans stable

Source : REUTERS
Last Updated: Fri, Apr 21, 2017 14:33 hrs
FILE PHOTO: The headquarters of India's HDFC bank is pictured in Mumbai

Mumbai: HDFC Bank Ltd, India's second-biggest lender by assets, reported fourth-quarter net profit rose 18.3 percent on higher interest and fee income, slightly ahead of estimates.

Net profit was 39.9 billion rupees ($617.60 million) for the three months to March 31, compared with 33.74 billion rupees reported a year ago, HDFC Bank, the most valuable lender in the sector, said on Friday.

Analysts, on average, had expected a net profit of 39.56 billion rupees, according to data compiled by Thomson Reuters.

Gross bad loans as a percentage of total loans, at 1.05 percent, were little changed from end-December.

($1 = 64.6050 Indian rupees)

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