India`s HDFC Bank posts Q3 net profit beat on strong loan growth
HDFC Bank, India's biggest private sector lender, posted a higher-than-expected standalone net profit for the third quarter ended Dec 31., bolstered by robust loan growth, it said on Tuesday.
Analysts had expected a net profit of 156.51 billion rupees, LSEG data showed. It posted a standalone net profit, excluding its subsidiaries, of 159.76 billion rupees in the July-September quarter.
The bank's net interest income, or the difference between interest earned and interest expended, stood at 284.71 billion rupees, up from 273.85 billion rupees in the previous quarter.
This is HDFC Bank's second earnings report since its merger with parent Housing Development Finance Corp (HDFC) in July. The numbers are not comparable to a year ago when the lender and HDFC operated as separate firms.
($1 = 83.0650 Indian rupees)
