HDFC Bank Q2 Results : Private sector HDFC Bank's standalone profit has increased by five per cent to Rs 16,821 crore for the July-September quarter of the current financial year. The bank's net profit in the same quarter of the last financial year was Rs 15,976 crore. In a communication to the stock market on Saturday, the bank said that the total income has increased to Rs 85,500 crore in the September quarter, which was Rs 78,406 crore in the same quarter of the last financial year. The bank's interest income increased to Rs 74,017 crore in the September quarter from Rs 67,698 crore in the same quarter of the last financial year.
NII increased by 10%
Net interest income (NII) rose 10 per cent to Rs 30,110 crore from Rs 27,390 crore in the second quarter last year. Regarding asset quality, the bank's gross non-performing assets (NPAs) rose to 1.36 per cent of gross loans by the end of September, 2024, from 1.34 per cent a year ago. Similarly, net NPA or bad loans increased to 0.41 per cent, from 0.35 per cent at the end of the second quarter of the last fiscal. On a consolidated basis, the bank's net profit rose six per cent to Rs 17,826 crore in the September quarter from Rs 16,811 crore in the same quarter last fiscal.
What is the condition of the stock?
On Friday, the last trading day of the week, HDFC Bank shares closed with a slight gain. The bank's shares closed at Rs 1681.15 on the Bombay Stock Exchange with a gain of 0.47 per cent or Rs 7.80. At the same time, the market cap of the company has reached Rs 12,82,848.30 crore on BSE.
Image Credit: India-Tv.