By Kosaku Narioka
HDFC Bank Ltd.'s (500180.BY) third-quarter group net profit climbed 30% on year in part due to strong retail banking earnings.
The Indian banking and financial services major said Saturday that consolidated net profit for the quarter ended Dec. 31 rose to 76.60 billion rupees ($1.08 billion) from INR59.01 billion in the same quarter a year earlier.
Operating income from retail banking increased 29% on year while that of wholesale banking rose 3.5%.
HDFC's standalone net profit increased 33% to INR74.16 billion, exceeding the estimate of INR70.16 billion in a poll of analysts compiled by FactSet.
Domestic retail loans grew 14% over the period and domestic wholesales loans increased 29%. Total deposits rose 25%.
The bank's group total income rose 17% to INR383.26 billion from INR327.23 billion.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
January 19, 2020 21:22 ET (02:22 GMT)
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