HDFC Bank Rises Over 2% Due To Jump In Q3 Net Profit

HDFC Bank, the country's largest private sector lender, reported a 14.36 per cent jump in consolidated net profit to Rs 8,760 crore for the December quarter

HDFC Bank Rises Over 2% Due To Jump In Q3 Net Profit

HDFC Bank's net revenues or net interest income plus other income grew to Rs 23,760.8 crore

HDFC Bank shares gained more than 2 per cent in a weak market after the country's largest private sector lender, on Saturday, reported a 14.36 per cent jump in consolidated net profit to Rs 8,760 crore for the December quarter. At 10:15, the shares of HDFC Bank were trading higher by 1.8 per cent at Rs 1,494 on the BSE. The shares have touched an intra-day high of Rs 1,500 and a low of Rs 1,467.95 thus far.

At the standalone level, HDFC Bank's net profit for the three-month period grew 18.09 per cent to Rs 8,758.29 crore. The bank's asset quality improved during the October-December quarter as the gross non-performing assets (NPA) ratio stood at 0.81 per cent of the total assets as against 1.42 per cent in the year-ago period and 1.08 per cent at end of the preceding September quarter, the bank said in a regulatory filing on Saturday.

HDFC Bank's net revenues or net interest income plus other income grew to Rs 23,760.8 crore in the third quarter of the current financial year from Rs 20,842.2 crore in the year-ago period.

The BSE Sensex was at 48,703.15, lower by 321.55 points or 0.66 per cent and the NSE Nifty was at 14,308.65, down 125.45 points or 0.87 per cent at the time.