HDFC Bank Q2 net profit up 20 percent, beats estimates

MUMBAI (Reuters) - HDFC Bank Ltd, India's second-biggest private sector lender by assets, on Tuesday reported a 20.4 percent rise in second-quarter net profit, just beating analyst estimates, as income from interest and fees grew.

Net profit was 34.55 billion rupees ($516.7 million) for the three months to Sept. 30, from 28.69 billion rupees a year earlier. The profit was slightly more than the 34.15 billion rupee average of 27 analyst estimates compiled by Thomson Reuters.

Meanwhile, gross bad loans were 1.02 percent of total loans outstanding as of Sept. 30, down from 1.04 percent at the end of June.

($1 = 66.8725 rupees)

(Reporting by Devidutta Tripathy; Editing by Kenneth Maxwell)