HDFC Bank’s Profit Jumps 32%
HDFC Bank’s (NYSE:HDB) fiscal second quarter 2012 (ended September 30, 2011) net profit of INR11.99 billion (US$0.26 billion) saw an impressive 31.5% increase over the prior-year quarter. Results improved primarily on strong growth in net revenue and a decline in provisions and contingencies (primarily comprising loan loss provisions), partially offset by higher operating expenses. Net revenue [...]
HDFC Bank’s (NYSE:HDB) fiscal second quarter 2012 (ended September 30, 2011) net profit of INR11.99 billion (US$0.26 billion) saw an impressive 31.5% increase over the prior-year quarter. Results improved primarily on strong growth in net revenue and a decline in provisions and contingencies (primarily comprising loan loss provisions), partially offset by higher operating expenses.
Net revenue for the quarter shot up 19.2% year over year to INR41.56 billion (US$0.91 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards