HDFC Bank’s net profit up 5 pc to Rs 16,820 crore in Q2

Mumbai, Oct 19 (SocialNews.XYZ) Leading private sector lender HDFC Bank on Saturday reported a net profit of Rs 16,820 crore in the July-September quarter, a growth of 5 per cent from the corresponding quarter last year.

Adjusted for trading and mark-to-market gains and tax credits in the prior year, profit after tax (PAT) for the quarter grew by 17 per cent over the quarter ended September 30, 2023, the bank said in its regulatory filing with the BSE.

The net interest income in Q2 FY25 was Rs 30,114 crore, 10 per cent up from last year.

The gross non-performing assets (GNPA) stood at 1.36 per cent while gross net non-performing assets (NNPA) were 0.41 per cent. The bank's consolidated net revenue grew by 14.7 per cent to Rs 76,040 crore for the quarter ended September 30 -- from Rs 66,320 crore for the same quarter last year.

HDFC Bank's net revenue grew by 9.2 per cent to Rs 41,600 crore for the quarter, up from Rs 38,090 crore for the same quarter last year. Operating expenses for the quarter were Rs 16,890 crore, an increase of 9.7 per cent over Rs 15,400 crore during the corresponding quarter of the previous year.

The total balance sheet size of HDFC Bank was Rs 36.8 lakh crore in Q2 as against Rs 34.1 lakh crore. Total deposits were at Rs 25 lakh crore in Q2, an increase of 15.1 per cent from the same quarter last year.

According to the bank, retail loans grew by 11.3 per cent, commercial and rural banking loans grew by 17.4 per cent and corporate and other wholesale loans were lower by 12 per cent in the quarter. Other income (non-interest revenue) for the quarter ended September 30 was Rs 11,480 crore as against Rs 10,710 crore in the corresponding quarter ended September 30, 2023.

Source: IANS