BENGALURU/NEW DELHI: HDFC Bank Ltd has reported the record profit for the three months ending September 30 broadly in line with expectations, helped by higher interest and fee income.
Net profit rose to 50.05 billion rupees (USD 682.16 million) for the quarter ended Sept 30, from 41.51 billion rupees a year ago, India's biggest lender by market capitalisation said in a statement. Fifteen analysts, on average, had expected a net profit of 50.30 billion rupees, according to I/B/E/S data from Refinitiv.
Asset quality was largely stable, with gross bad loans as a percentage of total loans standing at 1.33 per cent at the end of September, unchanged from the previous quarter and from 1.26 per cent in the same period last year.