HDFC Bank India profit up 22.6% hit record

April 20 (Reuters) – HDFC Bank Ltd. (India) announced Saturday a record profit slightly above expectations, reaching 58.85 billion rupees. The country's leading lender, in terms of market value, has reaped a rise in interest and fee income.

The bank's net profit rose 22.6 percent for the three months to March 31, from 47.99 billion rupees a year ago, the statement said.

Analysts were looking for a profit of 58.46 billion rupees, according to Refinitiv's IBES data. (Report by Chris Thomas to Bengaluru, written by Swati Bhat, edited by Himani Sarkar)