HDFC Bank Q2 profit rises 20% to Rs 4,151 cr despite sharp spike in provisions

HDFC Bank's July-September quarter earnings matched analysts' expectations on Tuesday as profit grew by 20 percent year-on-year to Rs 4,151 crore despite sharp increase in provisions for bad loans.

Provisions for bad loans nearly doubled to Rs 1,476.2 crore in Q2FY18, compared with Rs 748.99 crore in Q2FY17 but declined 5.3 percent on sequential basis.

At 12:50 hours IST, the stock price was quoting at Rs 1,861.95, down Rs 0.70, or 0.04 percent on the #BSE, after hitting a record high of Rs 1,876.95 per share intraday.

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