HDFC Bank Shares Surge 2% on Profit Growth
Jul 22, 2024 17:29
HDFC Bank shares climbed over 2% on Monday, boosted by a 33.17% rise in consolidated net profit for the June 2024 quarter. The bank's market capitalization jumped by Rs 25,639 crore.
Photograph: Shailesh Andrade/Reuters
New Delhi, Jul 22 (PTI) HDFC Bank's stock climbed over 2 per cent on Monday after the company's consolidated net profit grew 33.17 per cent to Rs 16,474.85 crore in the June 2024 quarter.
Shares of the firm advanced 2.10 per cent to settle at Rs 1,640.80 apiece on the BSE. During the day, it climbed 2.71 per cent to Rs 1,650.75.
On the NSE, it went up by 2.15 per cent to Rs 1,642 per share.
The firm's market capitalisation (mcap) jumped Rs 25,639.38 crore to Rs 12,48,340.71 crore.
In volume terms, 15.82 lakh shares of the firm were traded on the BSE and 268.72 lakh shares exchanged hands on the NSE during the day.
The bank 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 Saturday.
However, the country's largest private lender HDFC Bank reported a 6.51 per cent decline in its consolidated net profit sequentially to Rs 16,474.85 crore in the April-June quarter compared to the previous January-March quarter.
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.
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