HDFC Bank Q3 results: Net profit rises 18% to Rs 10,342 cr

Personal loan company HDFC Bank on Saturday noted an 18% soar in standalone web gain at Rs 10,342 crore for the quarter ending December 31, 2021. The lender noted web gain of Rs eight,758 crore in the year-back period of time.

The bank’s web revenues, the sum of NII and other earnings, elevated by twelve% to Rs 26,627 crore as in opposition to Rs 23,760.eight crore in Q3FY21.

Internet interest earnings, the change in between interest attained and interest expended, grew by 13% to Rs 18,443.5 crore as compared to Rs sixteen,317.6 crore in December 2020.

On Friday, HDFC Bank’s scrip on BSE closed 1% higher at Rs 1,545.

The bank’s provisions fell twelve% to Rs two,994 crore as compared to Rs 3,414 crore in December 2020.

Complete earnings, on a standalone foundation, rose to Rs 40,651.sixty crore in the Oct-December quarter of FY2021-22, as in opposition to Rs 37,522.ninety two crore in the very same period of time of the past monetary year, HDFC Bank reported in a regulatory filing.

Nonetheless, there was a increase in bank’s bad mortgage proportion with gross non-undertaking belongings (NPAs) rising to 1.26% of gross improvements as of December thirty, 2021, as in opposition to .81% in the year-back period of time. Nonetheless, it was down sequentially from 1.35% by the conclusion of September 2021.

Internet NPAs or bad financial loans far too rose to .37% year on year from .09%, but down from September 2021 quarter’s .40% sequentially.

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