HDFC Bank Q3 net rises 20.10% to ₹4,642.6 crore

Private lender HDFC Bank on Friday reported a 20.1 % growth in net profit to ₹ 4,642.6 crore for the third quarter of the current fiscal.

The private sector bank had posted a net profit of ₹3,865.33 crore in the October-December quarter of last fiscal.

Total income rose to Rs 24,450.44 crore during the December quarter, up 17.84 % from ₹ 20,748.27 crore in the year-ago period.

Net interest income grew by 24.1 % to ₹10,314.3 crore during the quarter under review from ₹8,309.1 crore reported in the corresponding quarter a year ago. HDFC Bank’s net interest margin stood at 4.3 % for the quarter.

The net non-performing assets (NPAs) as a percentage of total loans rose marginally to 0.44 % at the end of December, from 0.32 % in same period last year.

HDFC Bank’s provisions (other than tax) and contingencies increased to ₹1,351.44 crore as against ₹ 715.78 crore reported in the corresponding period a year ago.

Shares of HDFC Bank were trading at Rs 1,944.30, up 0.65 %, on the BSE.

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