HDFC Bank Q1 net profit rises, but lags estimates

REUTERS - HDFC Bank , India's second-biggest lender by assets, on Monday reported a 20 percent increase in its first-quarter profit, missing analysts' estimates.

Net profit rose to 38.94 billion rupees ($604.31 million) in the quarter ended June 30, from 32.39 billion rupees a year ago, India's most-valuable bank said on Monday. (http://bit.ly/2uONcnF)

That compares with an average estimate of 39.38 billion rupees from 21 analysts polled by Thomson Reuters.

Gross non-performing loans as a percentage of total loans rose to 1.24 percent at end-June, from 1.05 percent at end-March.

($1 = 64.4375 Indian rupees)

(Reporting by Tanvi Mehta in Bengaluru; Editing by Himani Sarkar)