HDFC Bank net up 33% at Rs1,088 crore

HDFC Bank posted a net profit of Rs1,088 crore in the quarter ended December 2010, up by 33 % year-on-year, on the back of a healthy growth in interest income.

Net interest income (the difference between interest earned and interest paid), grew by 25% to Rs2,777 crore in the quarter driven by the growth in advances, which grew by 32%.

"We expect our credit growth to be more than the banking sector growth of 20% in the next fiscal," said Paresh Sukthankar, executive director, HDFC Bank.