HDFC Bank Q3 Results Announcement: Net Profit Jump 18.5% YoY, NII Rises 24.6%

HDFC Bank, India's largest private sector lender, released its quarterly results on Saturday., 14 Jan' 2022. The first bank to report third-quarter earnings reported an 18.5 percent year-on-year (YoY) increase in net profit to Rs 12,259 crore for the quarter ended December.

HDFC Bank's net interest income (NII) increased 24.6% year on year to Rs 22,987 crore in the third quarter.The bank's gross non-performing asset ratio remained unchanged sequentially at 1.23%. Similarly, the net NPA ratio remained constant at 0.33%.

HDB Financial Services Ltd., the lender's non-bank finance company subsidiary, increased its net revenue 12.7% year on year to Rs 2,233.4 crore. Profit after tax for the quarter ended December 31, 2022 was Rs 501.2 crore, up from Rs 304.0 crore the previous year.

Stage 3 loans accounted for 3.73% of total loans. Total CAR was 20.5% as of December 31, 2022, with Tier-I CAR at 16.0%.