HDFC Bank Q2 net profits up; Gross NPAs rise

Business

oi-Sunil

By Sunil Fernandes

Updated: Tuesday, October 15, 2013, 14:21 [IST]

HDFC Bank has reported Q2 FY 2014 numbers in line with street estimates, even as gross non performing assets have risen.

The net profits at the bank have risen to Rs 1982 crores, marginally better then street expectations. The net profits in the previous quarter were placed at Rs 1844 crores.

The net interest income has come in lower then street estimates at Rs 4476 crores.

What disappointed the markets were the increase in the gross non performing assets to 1.1%, as against 1% reported in the previous quarter of the current year.

Net NPAs, however, have remained constant at 0.3%.

The stock was last trading at Rs 659, down 1% over its previous close.

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