HDFC Bank Ltd reported a record quarterly net profit of 58.85 billion rupees ($848 million) on Saturday, meeting market expectations as the country's biggest lender by market value raked in higher interest and fee income. The bank also said its board had approved raising up to 500 billion rupees by issuing debt over the next 12 months. Net profit rose 22.6 % in the fourth quarter through March from 47.99 billion rupees a year ago. Analysts were looking for a profit of 58.46 billion rupees, according to IBES data from Refinitiv. Net interest income was up 22.8 %, while the net interest margin was 4.4 %.

Source: Mint April 20, 2019 12:00 UTC