HDFC Bank Q4 profit up 30%

HDFC Bank,India’s third largest lender by assets,reported a 30.3 percent rise in fourth-quarter net profit,beating analyst forecasts,helped by higher fee income and credit demand as well as lower provisions for loan losses.

The Mumbai-based bank’s net profit was 14.53 billion rupees ($282 million) in the fiscal fourth quarter ended March 31 compared with 11.15 billion rupees reported a year earlier.

Analysts,on average,had expected a net profit of 14.3 billion rupees for HDFC Bank,which is also listed in New York.

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