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HDFC Bank net profit up 20 percent, lags estimates

Reuters  |  MUMBAI 

MUMBAI (Reuters) - HDFC Bank Ltd, India's second-biggest private sector lender by assets, on Tuesday reported a 20 percent rise in quarterly net profit, lagging estimates, due to higher tax expenses and provisioning for loan losses.Net profit rose to 23.81 billion rupees ($388.51 million) in its fiscal second quarter to Sept. 30, from 19.82 billion rupees a year earlier, the Mumbai-headquartered bank said in a statement.Analysts had on average expected a net profit of 24.25 billion rupees, according to data compiled by Thomson Reuters.($1 = 61.2850 rupees) (Reporting by Sumeet Chatterjee; ...

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First Published: Tue, October 21 2014. 13:25 IST