HDFC Bank Q3 profit up 15 per cent, beats estimates

Gross bad loans as percentage of total loans were 1.05% in Dec quarter, versus 1.02% in Sept quarter

HDFC Bank Ltd, India's third-biggest lender by assets, on Tuesday reported a 15 per cent rise in third-quarter net profit, above analyst estimates, due to higher interest and fee income.

Net profit was Rs 3870 crore ($567.91 million) for the three months to December 31, compared with Rs 3357 crore reported a year ago, said HDFC Bank, the most valuable bank in the sector.

Analysts on average had expected a net profit of Rs 3788 crore, according to data compiled by Thomson Reuters.

Gross bad loans as a percentage of total loans were 1.05 per cent in the December quarter, versus 1.02 per cent in the September quarter.