HDFC Bank Q2 Profit Up 5% to Rs 16,821 cr - Business News
By Rediff Money Desk, New Delhi Oct 19, 2024 14:49
HDFC Bank's standalone profit rose 5% to Rs 16,821 crore in Q2 FY25, driven by increased interest income and net interest income. Learn more about the bank's financial performance.
New Delhi, Oct 19 (PTI) HDFC Bank on Saturday posted a marginal 5 per cent increase in its standalone profit at Rs 16,821 crore in the second quarter ended September 2024.
The country's biggest private sector lender had earned a net profit of Rs 15,976 crore in the same quarter a year ago.
Total income increased to Rs 85,500 crore during the quarter under review against Rs 78,406 crore in the same period last year, HDFC Bank said in a regulatory filing.
The bank reported interest income of Rs 74,017 crore during the quarter compared to Rs 67,698 crore in the same period a year ago.
Net Interest Income (NII) improved to Rs 30,110 crore, from Rs 27,390 crore in the second quarter of previous year, registering a 10 per cent growth.
As regards asset quality, the bank witnessed slight deterioration with gross Non-Performing Assets (NPAs) rising to 1.36 per cent of the gross loans by the end of September 2024 from 1.34 per cent a year ago.
Similarly, net NPAs or bad loans rose to 0.41 per cent from 0.35 per cent at the end of the second quarter of the previous fiscal.
On a consolidated basis, the bank logged a growth of 6 per cent in net profit to Rs 17,826 crore as against Rs Rs 16,811 crore in Q2FY24.
The country's biggest private sector lender had earned a net profit of Rs 15,976 crore in the same quarter a year ago.
Total income increased to Rs 85,500 crore during the quarter under review against Rs 78,406 crore in the same period last year, HDFC Bank said in a regulatory filing.
The bank reported interest income of Rs 74,017 crore during the quarter compared to Rs 67,698 crore in the same period a year ago.
Net Interest Income (NII) improved to Rs 30,110 crore, from Rs 27,390 crore in the second quarter of previous year, registering a 10 per cent growth.
As regards asset quality, the bank witnessed slight deterioration with gross Non-Performing Assets (NPAs) rising to 1.36 per cent of the gross loans by the end of September 2024 from 1.34 per cent a year ago.
Similarly, net NPAs or bad loans rose to 0.41 per cent from 0.35 per cent at the end of the second quarter of the previous fiscal.
On a consolidated basis, the bank logged a growth of 6 per cent in net profit to Rs 17,826 crore as against Rs Rs 16,811 crore in Q2FY24.
Source: PTI
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