HDFC Bank Q1 FY24 Results: Impressive Net Profit of Rs 11,951 Crore and Improved Asset Quality

HDFC Bank, one of India's leading private sector banks, has recently released its financial results for the first quarter (Q1) of the fiscal year 2023-24.

For the quarter ending in June of FY24, April-June, Bank declared a net profit of Rs 11,951 crore. Gross non-performing assets (GNPA) ratio for the biggest private sector bank in the nation was down from 1.28 percent in the same period last year to 1.17 percent this time around.

Its net NPA (NNPA) decreased from 0.35 percent last year to 0.30 percent this year. From Rs 9,196 crores in the same quarter last year to Rs 11,951 crores in Q1FY24, the lender's net profit increased dramatically.