Oct 24 (Reuters) - HDFC Bank Ltd, India’s No.2 lender by assets, on Tuesday reported a 20 percent rise in second-quarter profit, almost in line with analysts’ estimates.
Net profit rose to 41.51 billion rupees ($634 million) in the three months ended Sept. 30, from 34.55 billion rupees a year earlier, said the bank, India's second-most valuable company with a market capitalisation of about $87 billion. (bit.ly/2gzG5qk)
That compared with average analysts’ estimate of 41.61 billion rupees, according to data compiled by Thomson Reuters.
Gross bad loans as a percentage of total loans stood at 1.26 percent, compared with 1.24 percent in the previous quarter and 1.02 percent a year earlier. ($1 = 64.9625 Indian rupees) (Reporting by Samantha Kareen Nair in BENGALURU; Editing by Himani Sarkar)