HDFC Bank reports Q2 net profit at ₹16,811 cr; ₹15,976 cr as standalone

Largest private sector lender HDFC Bank on Monday reported a net profit of 16,811 crore on a consolidated level.

Representational Image
Representational Image

In the first results of the merged entity after the amalgamation of its parent HDFC Ltd into the lender, HDFC Bank reported a net profit of 15,976 crore on a standalone basis.

In the year-ago period, the net profit of the merged entity would have been 11,162 crore on a consolidated level, while the same on a standalone basis would have been 10,606 crore.

The total income grew to 78,406 crore on a standalone basis, from 46,181 crore in the year-ago period.

On the net interest margin (NIM) front, the bank reported a narrowing to 3.4 per cent after absorbing the debt funded cost for additional liquidity and merger management.

Its gross non-performing assets ratio came at 1.34 per cent, as against 1.23 per cent in the year-ago period.

The HDFC Bank scrip closed 0.47 per cent down at 1,529.50 a piece on the BSE, as against a 0.17 per cent correction on the benchmark.

“Exciting news! Hindustan Times is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!” Click here!

Leave a Reply

Your email address will not be published. Required fields are marked *