HDFC Bank Q1 Profit Surges 33% to Rs 16,474 Cr
By Rediff Money Desk, Mumbai 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.
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.
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.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.66 ( -4.66)
- 114398013
- IFL Enterprises
- 1.32 ( -2.94)
- 99888386
- Vodafone Idea L
- 15.88 ( -2.46)
- 44202725
- Tata Teleservices (M
- 102.11 (+ 4.80)
- 28004764
- Franklin Industries
- 3.72 ( -4.62)
- 25845433
MORE NEWS
JK Cement Q1 Profit Surges 67% to Rs 184.82 cr
JK Cement's consolidated net profit rose 67% to Rs 184.82 crore in Q1 FY25, driven...
Kotak Mahindra Bank Q1 Profit Up 2% to Rs 3,520...
Kotak Mahindra Bank reported a 2% rise in net profit to Rs 3,520 crore for the first...
Yes Bank Q1 Profit Surges 46.7% on Lower...
Yes Bank's net profit rose 46.7% in Q1 FY25, driven by lower provisions and strong loan...