HDFC Bank Q1 profit rises 20% to Rs 3,893 cr | business-news

Private sector lender HDFC Bank today reported 20.22 % increase in net profit to Rs 3,893.84 crore for the quarter ended on June 30, 2017, compared to the same period last year.

The bank had earned a profit of Rs 3,238.91 crore in the April-June quarter of last fiscal.

Total income rose to Rs 22,185.38 crore during the quarter under review, up 14.81 % against Rs 19,322.63 crore in the same period last year, HDFC Bank said in a BSE filing.

As of June 30, HDFC Bank’s gross non-performing assets (NPAs) increased marginally to 1.24 % of gross advances as against 1.04 % at the end of first quarter of the last fiscal.

Net non-performing assets stood at 0.44 % of net advances as on June 30 as against 0.32 % reported in the first quarter of the previous fiscal.

Shares of HDFC Bank were trading 0.80 % higher at Rs 1,717 in afternoon trade on BSE.

Source

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