HDFC Bank Q2 Net Profit Rises
(RTTNews) - HDFC Bank Ltd. (HDB, HDFCBANK.NS) reported that its consolidated net profit for second quarter rose to INR 2O,7OO.O3 crore from INR 19,61O.67 crore last year. On a per share basis, net income was INR 13.41 up from INR 12.71 in the previous year.
HDFC Bank reported a rise in its quarterly profit for the July-September period. Nasdaq Markets reported that the bank's consolidated net profit increased to INR 20,700.03 crore from INR 19,610.67 crore the previous year, with per share net income rising to INR 13.41 from INR 12.71. Investing.com stated the bank's standalone net profit rose 4.7% to 195.1 billion rupees, a figure below the 195.89 billion rupees average analyst estimate reported by Bloomberg.
According to Investing.com, growth in loans and interest income offset a decline in treasury trading gains, which fell to 7.8 billion rupees from 23.9 billion rupees a year earlier. Net interest income grew 9.7% to 346.2 billion rupees, while the net interest margin was 3.16% of total assets. The bank's average deposits increased 16.8% year-on-year, and average advances under management rose 14.1%. Additionally, gross non-performing assets improved to 1.11% of gross advances compared to 1.24% in the prior year.
Brief written by urgent.news from Nasdaq Markets, Investing.com — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
