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 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E-mail ID will not be published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.

EDITORIAL OF THE DAY

  • The current value of the rupee does not merit market intervention

    The rupee, losing 40 paise per month against the dollar since May, is expected to remain under pressure till the calendar runs out on December 31, bef

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture