HDFC Bank net profit rises 20% in March quarter

HDFC Bank, country's second-biggest private sector lenderby assets, said its quarterly net profit rose about a fifth, in line with analysts' estimates.

Gross bad loans as a percentage of total loans fell to 0.94 per cent in the fiscal fourth quarter ended March, from 0.97 per cent in the previous three months.Net profit was Rs 3374 crore ($507 million) for the three months to March, compared with Rs 2807 crore a year earlier,HDFC Bank said in a statement on Friday.

Analysts on average had expected a net profit of Rs 3,386 crore, according to data compiled by Thomson Reuters.