BENGALURU (Reuters) – Shares of Indian’s HDFC Bank fell more than 7% on Wednesday, a day after the top private lender reported stagnant margins for a second consecutive quarter in October-December.
HDFC Bank reported a standalone net profit of 163.73 billion rupees ($1.97 billion) for the quarter ended December, beating analysts’ expectations of 156.51 billion rupees, per LSEG data. However, NIM remained stagnant at 3.4%, compared with the previous quarter.
($1 = 83.1325 Indian rupees)
(Reporting by Nishit Navin in Bengaluru; Editing by Dhanya Ann Thoppil)
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