HDFC Bank's Second Quarter Profit Surges 20%

HDFC Bank, the No.2 lender by assets, on Tuesday reported a 20 per cent rise in second-quarter profit, almost in line with analysts' estimates.

Net profit rose to Rs. 4,151 crore in the three months ended September 30, from Rs. 3,455 crore a year earlier, said the bank, which is country's second-most valuable company with a market capitalisation of about $87 billion.

That compared with average analysts' estimate of Rs. 4,161 crore, according to data compiled by Thomson Reuters.

Gross bad loans as a percentage of total loans stood at 1.26 per cent, compared with 1.24 per cent in the previous quarter and 1.02 per cent a year earlier.