HDFC Bank Q3 results: Profit rises 18% to Rs 8,758 cr YoY, beats Street estimates; NII up 15%

0
34
HDFC Bank Q3 results: Profit rises 18% to Rs 8,758 cr YoY, beats Street estimates; NII up 15%


MUMBAI: India’s largest private sector lender HDFC Bank today reported a 18.1 per cent rise in its net profit for the December quarter to Rs. 8,758.3 crore, which higher than Street’s estimate.

The lender reported a growth 15.1 per cent in its net interest income for the reported quarter to Rs. 16,317.6 crore, which was also above estimate.

An average of estimates from five brokerages showed that the private lender may report net profit of Rs. 7,629 crore. Analysts had expected the bank to report net interest income of Rs. 16,109.2 crore.

HDFC Bank’s gross non-performing assets ratio for the quarter stood at 0.8 per cent, ICICI Securities expected the metric to come in at 0.4 per cent. The net non-performing assets ratio was at 0.09 per cent as against 0.17 per cent in the previous quarter.

The lender said that without accounting for Supreme Court’s standstill, gross NPA ratio was at 1.38 per cent in December and net NPA ratio was at 0.4 per cent.

HDFC Bank’s advances grew 16% on-year in the December quarter to Rs. 10.8 lakh crore, whereas its deposits climbed 19 per cent on-year to Rs. 12.7 lakh crore.

The lender’s credit cost in the quarter fell to 1.25 per cent from 1.41 per cent, a quarter ago. Provisions and contingencies in the quarter were at Rs. 3,414.1 crore as compared to Rs. 3,043.6 crore in the corresponding quarter a year ago.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here