HDFC Bank Q3 net profit up 20%, beats estimates

Gross NPA, Net NPA stable at 1% and 0.3% respectively

HDFC Bank, India's second-biggest private sector lender by assets, on Saturday reported a 20.2% increase in quarterly profit, beating estimates.

The Mumbai-based lender said net profit rose to Rs 2,795 crore ($450.33 million) in its fiscal third quarter to Dec. 31, from Rs 2,326 crore a year earlier.

Analysts on average had expected a net profit of Rs 2,780 crore, according to data compiled by Thomson Reuters.

Gross NPA and Net NPA were stable at 1% and 0.3% respectively.

The capital adequacy ratio was 15.7%, same as last quarter.