HDFC Bank reports 31% increase in Q3 net profit

Country’s largest lender HDFC Bank has announced the results for the quarter ended December 31, 2011

The bank has posted a net profit of Rs 1,429.66 crore for the third quarter ended December 31, 2011, up 31.42% from Rs 1,087.83 crore for the quarter ended December 31, 2010. Total income of the bank has increased by 35.62% from Rs 6,357.78 crore for the quarter ended December 31, 2010 to Rs 8,622.64 crore for the quarter ended December 31, 2011.

Bank’s gross NPAs stood at Rs 2,020 crore as compared to Rs 1,895 crore in the same quarter last fiscal.