HDFC Bank Q2 Earnings: Net profit rose to 17.5 per cent in the September quarter
HDFC Bank Q2 FY22 Results: HDFC Bank, the country’s largest private lender, reported a net profit of Rs 8,834.3 crore on a standalone basis, marking an increase of 17.58 per cent in the July-September quarter from Rs 7,513.1 crore during the same period last year. The bank’s total income stood at Rs 38,754 crore, compared to Rs 36,069 crore in the year-ago period. HDFC Bank Q2 Results: Here’s All You Need To KnowOn a sequential basis, the bank’s standalone net profit increased 14.29 per cent, compared to Rs 7,729 crore reported at the end of the preceding April-June quarter in the financial year 2020-21. (Also Read: HDFC Bank Net Profit Rises 16% To Rs 7,729 Crore In 1st Quarter Of Current Fiscal )The bank’s gross non-performing asset (NPA) stood at 1.35 per cent of the gross advances (1.2 per cent excluding NPAs in the agricultural segment), compared to 1.47 per cent in the preceding June quarter, and 1.37 per cent in the year-ago period.HDFC Bank’s net interest income – the difference between interest earned and interest expended – grew 12.1 per cent to Rs 17,684.4 crore, compared to Rs 15,776.4 crore in the year-ago period, driven by advances growth of 15.5 per cent, and a core net interest margin of 4.1 per cent.The bank’s non-interest revenue (other income) at Rs 7,600.8 crore was 29.5 per cent of the net revenues and registered a growth of 21.5 per cent, compared to Rs 6,092.5 crore in the corresponding quarter of the previous fiscalOn Thursday, October 14, shares of HDFC Bank settled 2.86 per cent higher at Rs 1,685.90 apiece on the BSE. Ahead of the quarterly results, the bank’s shares rallied on Thursday to touch a 52-week high of Rs 1,690 during the trading session.