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HDFC Bank Q2 net up 30.1%; beats forecast

HDFC Bank India's No.2 private sector lender, reported a 30.1 percent rise in quarterly net profit on Wednesday, beating forecast, helped by fee-based income.

The New York-listed bank posted a net profit of 6.87 billion rupees ($149 million) in the quarter to September compared with 5.28 billion rupees a year ago.

Ten analysts polled by Reuters had expected a net profit of 6.6 billion rupees.

Shares in the bank have risen 70.6 percent so far this year, lagging a 78.2 percent rise for the benchmark index BSE and an 86.3 percent rise for the sector index BANKNIFTY ($1=46.1 rupees)