January 19, 2018 / 6:45 AM / 4 months ago

India's HDFC Bank posts record quarterly profit

Jan 19 (Reuters) - HDFC Bank Ltd, India’s second-biggest lender by assets, on Friday reported a record-high quarterly profit, helped by an increase in interest and fee incomes.

Net profit rose 20 percent to 46.43 billion rupees ($728.40 million) for the third quarter ended Dec. 31, from 38.65 billion rupees a year ago. The latest quarterly profit was the highest ever for HDFC Bank, India's largest private-sector lender. (bit.ly/2Drn7iO)

Analysts on average had expected a net profit of 46.31 billion rupees, Thomson Reuters Eikon data showed.

Gross bad loans as a percentage of total loans stood at 1.29 percent at end-December, versus 1.26 percent at end-September. ($1 = 63.7425 Indian rupees) (Reporting by Krishna V Kurup in Bengaluru; Editing by Himani Sarkar)

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