HDFC Bank Q1 Profit Surges 33% to Rs 16,474 Cr
Jul 20, 2024 14:48
HDFC Bank's net profit for the June 2024 quarter soared 33.17% to Rs 16,474.85 crore, driven by strong revenue growth and lower provisions. Read more.
Photograph: PTI Photo
Mumbai, Jul 20 (PTI) HDFC Bank's consolidated net profit grew 33.17 per cent to Rs 16,474.85 crore in the June 2024 quarter.
The bank had posted a post-tax net profit of Rs 12,370 crore on a consolidated basis in the year-ago period, it said in a regulatory filing.
On a standalone level, its June quarter net profit rose to Rs 16,174 crore from Rs 11,951 crore in the year-ago period but was down from the preceding March quarter's 16,511 crore.
The bank's total income increased to Rs 83,701 crore from Rs 57,816 crore a year ago.
Its provisioning was reduced to Rs 2,602 crore from Rs 2,860 crore a year earlier.
The lender's gross non-performing assets ratio inched up to 1.33 per cent from 1.24 per cent in March.
HDFC Bank's overall capital adequacy was 19.33 per cent as of June 30, 2024.
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