HDFC Bank, the country's second largest private sector lender, on Wednesday reported a 20.5% jump in net profit to Rs 2,870 crore in the three months to September, helped by robust performance in retail loans segment and a rise in other income.
The overall set of numbers was also driven by net interest income and operating profit as also stable asset quality despite higher provisions and tax expenses.
However, the recent aggressive rate posturing has hurt the Aditya Puri-led bank's margins, which slipped to its lowest range of 4.1%. This is the tenth consecutive quarter that the country's most valuable lender has been reporting sub-30% growth in net profit.
The overall set of numbers was also driven by net interest income and operating profit as also stable asset quality despite higher provisions and tax expenses.
However, the recent aggressive rate posturing has hurt the Aditya Puri-led bank's margins, which slipped to its lowest range of 4.1%. This is the tenth consecutive quarter that the country's most valuable lender has been reporting sub-30% growth in net profit.
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