Loan growth, fall in bad loans powers HDFC Bank Q2 profits

HDFC Bank Ltd., India’s largest private lender, posted second-quarter profit that beat analyst expectations due to strong loan growth and a fall in bad loans. Net income was 75.1 billion rupees ($1.02 billion) for the three months to September, up from 63.4 billion rupees a year earlier, the lender said in a filing on Saturday. The profit was 17% higher than the 64.1 billion rupees average estimate from 15 analysts, according to the data compiled by Bloomberg.

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