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HDFC Bank June Quarter Profit Rises 20%, But Lags Estimates
Highlights
HDFC Bank, India\'s second-biggest lender by assets, on Monday reported a 20 per cent increase in its first-quarter profit, missing analysts\' estimates. Net profit rose to Rs. 3,894 crore ($604.31 million) in the quarter ended June 30, from Rs. 3,239 crore a year ago, India\'s most-valuable bank said on Monday. That compares with an average estimate of Rs. 3,938 crore from 21 analysts polled by Thom
HDFC Bank, India's second-biggest lender by assets, on Monday reported a 20 per cent increase in its first-quarter profit, missing analysts' estimates. Net profit rose to Rs. 3,894 crore ($604.31 million) in the quarter ended June 30, from Rs. 3,239 crore a year ago, India's most-valuable bank said on Monday. That compares with an average estimate of Rs. 3,938 crore from 21 analysts polled by Thomson Reuters.
Gross non-performing loans as a percentage of total loans rose to 1.24 per cent at the end of June, from 1.05 per cent at the end of March.
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