HDFC Bank Beats Profit Estimates on Strong Loan Growth
HDFC Bank posted a net profit of 192.2 billion rupees for the fourth quarter. The result beat estimates as retail lending grew and asset quality improved.
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HDFC BANK LIMITED has reported a fourth-quarter profit that surpassed market expectations, buoyed by a surge in consumer lending across India. The country's largest private sector lender posted a standalone net profit of 192.2 billion Indian rupees ($2.08 billion) for the quarter ended March 31, exceeding the 176.16 billion rupees recorded a year earlier and topping analyst estimates of 191.16 billion rupees.
