HDFC Bank mops up Rs 1,405 crore

HDFC Bank on Friday said it has raised about Rs 1,405 crore from bonds to fund its business growth.

The bank has allotted Lower Tier II bonds for an amount aggregating Rs 1,405 crore, HDFC Bank said in a filing on BSE. The bonds in the nature of debentures where issued on a private placement basis, it said. HDFC Bank had raised Rs 565 crore from Lower Tier II bonds in October.

The bank posted a rise of 30.07 per cent in its net profit at Rs 1,559.98 crore for the quarter ended September 30, 2012 as compared to Rs 1,199.35 crore for the same quarter in the previous year.

Total income increased by 24.47 per cent at Rs 9,869.77 crore for quarter under review as compared to Rs 7,929.38 crore last year.