HDFC Bank fourth quarter net rises a fifth, bad loan ratio eases

MUMBAI (Reuters) - HDFC Bank Ltd , India's second-biggest private sector lender by 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 percent in the fiscal fourth quarter ended March, from 0.97 percent in the previous three months.

Net profit was 33.74 billion rupees ($507 million) for the three months to March, compared with 28.07 billion rupees a year earlier, HDFC Bank said in a statement on Friday.

Analysts on average had expected a net profit of 33.86 billion rupees, according to data compiled by Thomson Reuters. ($1 = 66.5375 Indian rupees)

 

(Reporting by Devidutta Tripathy; Editing by Subhranshu Sahu)