You are here: Home » Reuters » News
Business Standard

HDFC Bank Q1 net up 21 percent, lags estimates

Reuters  |  MUMBAI 

MUMBAI (Reuters) - HDFC Bank Ltd, India's second-biggest private sector lender by assets, reported its slowest quarterly earnings growth in more than a decade on higher-than-expected provisions.The Mumbai-based bank said net profit rose 21 percent to 22.33 billion rupees ($371 million) for its fiscal first quarter to end-June from 18.44 billion rupees a year earlier. Analysts had on average forecast a net profit of 23.21 billion rupees, according to Thomson Reuters data.Weaker economic expansion has squeezed credit growth for Indian lenders, slowing their earnings growth in recent quarters. ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, July 21 2014. 16:59 IST