By Kosaku NariokaHDFC Bank Ltd.'s first-quarter net profit rose 22% from a year earlier, thanks to greater earnings from wholesale and treasury operations, it said Saturday. Net profit for the quarter ended June rose to 69.27 billion rupees ($924.9 million) from INR56.76 billion a year earlier, the Indian lender said. On a standalone basis, net profit was INR66.59 billion, narrowly beating the estimate of INR66.15 billion from a FactSet poll of analysts. Segment profit more than tripled for the group's treasury operations and rose 9.7% for wholesale banking, offsetting declines in retail and other banking operations. The group's first-quarter total income from operations rose 6.9% to INR366.99 billion, it said.

Source: Wall Street Journal July 20, 2020 03:22 UTC