HDFC Bank net profit up 25 per cent; asset quality stable

HDFC Bank, India's third biggest lender by assets, posted yet another quarter of slowing

RELATED ARTICLES

quarterly profit on weaker loan growth and fee income.

HDFC Bank has been a sector outperformer posting consistent profit growth and stable asset quality in recent years, and is among the 'top picks' for most brokerages. Until the quarter-ended September, it had reported quarterly profit growth exceeding 30 percent, for the last decade.

On Friday, the bank posted a 25 percent increase in net profit to 23.26 billion rupees from 18.59 billion a year ago. Net interest income, the difference of interest earned and paid out, gained nearly 16 percent to 46.35 billion rupees.

On average, analysts had expected the bank to post a net profit of 23 billion rupees, according to Thomson Reuters I/B/E/S.

Asset quality at the bank remained mostly stable during the quarter. Non-performing loans as a percentage of total assets were at 0.3 percent, HDFC Bank said.

Earlier this week, smaller rivals Yes Bank and Axis Bank posted more than 19 percent increase in December quarter net profit.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • India needs to think quick and act fast to crank up its crude reserves

    With China overtaking the US in crude oil imports in April with imports at 7.4 million barrels per day, its thirst for building reserves and proving i

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Kumar Jain

Politics has to be about problem solving

One of the most common sights every morning at major ...

Kuruvilla Pandikattu SJ

Start meditating to preserve grey matter

Since 1970, life expectancy around the world has risen dramatically, ...

Gautam Gupta

It’s ethnic wear all the way in Indian fashion

India is one of the most diverse countries in the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture