HDFC Bank shares zoomed greater than 2 per cent to new highs on the BSE after the financial institution reported a leap in net profit in the September quarter. On Saturday, HDFC Bank reported a net profit of Rs 8,834.3 crore the July-September quarter, a rise of 17.58 per cent from Rs 7,513.1 crore throughout the identical interval final 12 months.
HDFC Bank’s complete earnings stood at Rs 38,754 crore throughout the quarter, in comparison with Rs 36,069 crore in the year-ago interval.
The financial institution’s gross non-performing asset (NPA) stood at 1.35 per cent of the gross advances, in comparison with 1.47 per cent in the previous June quarter, and 1.37 per cent in the year-ago interval. The net curiosity earnings – the distinction between curiosity earned and curiosity expended – grew 12.1 per cent to Rs 17,684.4 crore, in comparison with Rs 15,776.4 crore in the year-ago interval, pushed by advances development of 15.5 per cent and a core net curiosity margin of 4.1 per cent.
At 11:20 am, HDFC Bank shares had surrendered all their intra-day positive aspects and turned flat attributable to profit-booking at larger ranges. The benchmark indices have been buying and selling with positive aspects of 0.8 per cent at the time.