homefinance NewsHDFC Bank Q2 net profit rises 21% to Rs 5,005 crore

HDFC Bank Q2 net profit rises 21% to Rs 5,005 crore

HDFC Bank Q2 net profit rises 21% to Rs 5,005 crore
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By PTI Oct 22, 2018 6:18:57 AM IST (Updated)

The bank had registered a net profit of Rs 4,151.03 crore in the similar July-September quarter of 2017-18.

Private sector HDFC Bank Saturday reported a rise of 20.6 percent in its net profit to Rs 5,005.73 crore for the second quarter ended September this fiscal.

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The bank had registered a net profit of Rs 4,151.03 crore in the similar July-September quarter of 2017-18.
Total income for the quarter grew by 21.2 percent to Rs 28,215.2 crore as against Rs 23,276.2 crore, the bank said in a regulatory filing.
The net interest income (interest earned minus interest expended) for the quarter grew by 20.6 per cent to Rs 11,763.4 crore, driven by average asset growth of 22.9 percent and a net interest margin of 4.3 percent, it said.
The net interest income stood at Rs 9,752.1 crore in September quarter of 2017-18.
On asset front, the gross non-performing assets (NPAs) of the bank rose slightly to 1.33 percent of the gross advances as on September 30, 2018 from 1.26 percent on September 30, 2017.
The net NPAs or bad loans, however, fell to 0.40 per cent of the net loans by end of second quarter against 0.43 percent.
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