more-inHousing Development and Finance Corporation (HDFC) on Wednesday reported a net profit of ₹1,556 crore for the quarter ended June 30 as compared with ₹1,871 crore reported in the year-earlier period. HDFC said the effective tax rate for the quarter ended June 30, 2017 was higher at 34 % compared to 30.7% in the corresponding quarter of the previous year. Yes BankYes Bank reported 32% increase in its net profit to ₹965.5 crore for the first quarter of 2016-17 on the back of 44% increase in net interest income to ₹1,809 crore. Federal BankFederal bank Ltd. reported a 25.61% rise in its standalone net profit for the first quarter ended June 30, 2017 at ₹210 crore against ₹167 crore in the year-earlier period. Net interest income increased 15.68% to ₹801 crore (₹692 crore).

Source: The Hindu July 26, 2017 16:04 UTC