HDFC Bank Q3 profit up 20% to Rs 46.43 bn as interest, fee income rise

The net interest margin, the difference between the yield on advances and cost of fund, stood at 4.3%

Private sector lender HDFC Bank’s third-quarter net profit rose 20.1 per cent over the previous year quarter, backed by rise in interest and fee income.

The bank’s net profit rose to Rs 46.4 billion for the quarter ended December, up from Rs 38.6 billion in the year-ago quarter. Total income rose to Rs 244.50 billion during the December quarter, up 17.84 per cent from Rs 207.48.27 billion in the year-ago period.

The bank's net interest income, or the interest earned minus interest expended, rose 24.1  per cent on a year-on-year basis to Rs 103.14 billion.

The net interest margin, the