HDFC Bank reports standalone net profit on Saturday ₹8,834 crore for the quarter ended September 30, 2021, up 18%. The lender had posted a net profit of ₹7,513 crore in the year-ago period.
HDFC Bank’s net revenue (net interest income plus other income) up 14.7% ₹25,085.2 crore for the September quarter from ₹21,868.8 crore in the same quarter last year.
net internet income [NII] (Interest accrued less interest) from 12.1% ₹17,684.4 crore in Q2FY22. From ₹15,776.4 crore in the year-ago period.
The asset quality of the lender improved sequentially. Gross Non-Performing Assets (GNPA) stood at 1.35% of Gross Advances as on September 30, 2021, as against 1.47% as on June 30, 2021 and 1.37% as on September 30, 2020. Net non-performing assets (NPAs) were at 0.40% of net advances as on September 30, 2021.
As on September 30, 2021, the bank kept provisional provisions of Rs 1,451 crore and contingency provisions of Rs 17,756 crore. The total provisions (inclusive of specific, temporary, contingent and general provisions) accounted for 163% of the gross non-performing loans as on September 30. , 2021.
Shares of HDFC Bank closed with a gain of 2.86 per cent on Thursday ₹1,685.90 each on the BSE.
Don’t miss a story! Stay connected and informed with Mint.
download
Our App Now!!
.