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HDFC Sees 20.10% Rise in Net Profits for Q3

By Olga

India's leading private lending bank HDFC Bank Ltd had a 20.1 percent growth in net profits for its third quarter reported PTI. It posted a net profit of Rs 3,865.33 crore for the October-December quarter.

HDFC Sees 20.10% Rise in Net Profits for Q3

The bank's total incomes rose by 17.84% to Rs 24,450.44 crore compared to last year's third quarter results of Rs 20,748.27 crore.

Its Net interest income grew to Rs 10,314.3 crore (24.1%) from Rs 8,309.1 crore in previous fiscal year's third quarter. HDFC's net interest margin stood at 4.3% for the quarter in review.

The net Non-Performing Assets (NPAs) as a percentage of total loans rose marginally to 0.44 percent at the end of December, from 0.32 percent in same period last year.

Its provisions (other than tax) and contingencies increased to Rs 1,351.44 crore as against Rs 715.78 crore reported in the corresponding period a year ago.

Shares of HDFC Bank were trading at Rs 1,944.30, up 0.65 percent, on the BSE.

Read more about: hdfc hdfc bank q3 results
Story first published: Friday, January 19, 2018, 14:32 [IST]
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