October 15, 2009

HDFC Bank, the country's second largest private sector lender, reported a forecast-beating 30% rise in net profit for the quarter ended September, on rising fee income and trading gains. Profit from sale of investments (primarily bond gains) rose to Rs163 crore, up from a small loss a year earlier.

Fees and commissions formed the largest chunk of other income during July-September, Paresh Sukthankar, executive director, HDFC Bank, said. The bank's fee income grew 18% year on year to Rs692.4 crore in the quarter ended September. Overall, other income saw a growth of 56.6% to Rs1,007.4 crore for the quarter ended September, as against other income of Rs643.1 crore in FY09.