HDFC Bank profit rises 30%

Despite slower credit offtake, HDFC Bank, the country’s second largest private sector lender, reported a 30.21% rise its quarterly net profit, helped by non-interest income. The bank recorded a net profit of Rs 687.46 crore for the second quarter ended September 2009 against Rs 527.98 crore in the same quarter last year.

The bank’s net profit followed a 32% jump in the quarterly profit for Axis Bank, another private bank.

HDFC Bank’s gross advances rose 9% to Rs 1, 15,104 crore. Its gross and net non-performing assets,

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