Largest private sector lender HDFC Bank on Monday reported a 29.13 per cent jump in consolidated net profit for the June quarter at Rs 12,370.38 crore.
The bank, which recently merged mortgage financier parent HDFC into itself, had reported a net profit of Rs 9,579.11 crore in the year-ago period and Rs 12,594.47 crore in the preceding March quarter.
This is the first earnings of the bank following the Twin merger.
Its total income for the quarter under review rose to Rs 61,021 crore, as against Rs 44,202 crore in the year-ago period.
Operating expenses rose to Rs 15,177 crore during the quarter under review, from Rs 11,355 crore in the year-ago period, as per a regulatory filing.
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The gross non-performing assets ratio came at 1.17 per cent as of June 30, 2023, as against 1.12 per cent at the end of March and 1.28 per cent in the year-ago period.
The HDFC Bank scrip was trading 0.60 per cent up at Rs 1,657 a piece on the BSE at 1307 hrs, as against gains of 0.39 per cent on the benchmark.
The total deposits of banks saw a growth of 19 per cent YoY to Rs 19.13 lakh crore as of June end. The current account savings account (CASA) deposits grew by nearly 11 per cent and made for 42.5 per cent of the total deposits in the quarter.
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The total advance grew 16 per cent over the last year to Rs 16.16 lakh crore, with domestic retail loans witnessing a strong 20 per cent growth. Commercial and rural banking loans grew 29 per cent, while corporate and other wholesale loans also increased by 11.2 per cent.
The shares of the HDFC bank held on to gains post earnings and were trading 12 per cent higher at Rs 1,664.75 on the National Stock Exchange.
With inputs from agencies
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