October 19, 2011

HDFC Bank Q2 net up 10.5%, beats forecast

India's No. 3 lender,HDFC BANK , posted a 10.5 per cent rise in quarterly profit, beating street estimates, on higher fee and net interest income and stable asset quality.

The bank, which consistently beat market expectations over the past several quarters, said net profit in the fiscal second quarter ended September rose to 11.99 billion Indian rupees ($243 million) from 10.85 billion a year ago.

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