HDFC Bank Q3 net profit rises 20%, bad loans up

HDFC Bank, country's second-biggest private sector lender by assets, said its quarterly net profit rose by a fifth, broadly in line with analysts' estimates.

The bank's bad loans also rose.

Net profit rose to Rs 3,357 crore ($495 million) for its fiscal third quarter to December 31, from Rs 2,795 crore reported a year earlier, HDFC Bank said in a statement on Monday.

Analysts on average had expected a net profit of Rs 3361 crore, according to data compiled by Thomson Reuters.

Gross non-performing loans as a percentage of total loans rose to 0.97 per cent in the December quarter from 0.91 per cent in the previous three months.

($1 = Rs 67.7800)

(Reuters)