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Business Companies 22 Apr 2019 HDFC Bank fourth-qua ...

HDFC Bank fourth-quarter profit up 22.6 per cent to record high

PTI
Published Apr 22, 2019, 8:35 am IST
Updated Apr 22, 2019, 8:35 am IST
The bank also said its board had approved raising up to 500 billion rupees by issuing debt over the next 12 months.
Net profit rose 22.6 per cent in the fourth quarter through March from 47.99 billion rupees a year ago. (Photo: PTI)
 Net profit rose 22.6 per cent in the fourth quarter through March from 47.99 billion rupees a year ago. (Photo: PTI)

India’s HDFC Bank Ltd reported a record quarterly net profit of 58.85 billion rupees (USD 848 million) on Saturday, meeting market expectations as the country’s biggest lender by market value raked in higher interest and fee income.

The bank also said its board had approved raising up to 500 billion rupees by issuing debt over the next 12 months.

 

Net profit rose 22.6 per cent in the fourth quarter through March from 47.99 billion rupees a year ago. Analysts were looking for a profit of 58.46 billion rupees, according to IBES data from Refinitiv.

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