28 May 2020 | 7:49 AM

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COMPANYNEWS
HDFC Bank Q2 net profit up 26.75% at Rs 6344.99 cr
  HDFC Bank Ltd. | 17 Jan 2020 | 10:51 AM
Published on 10-22-2019
The bank reported standalone net profit of Rs 6344.99 crore for the quarter ended September 30 2019 as compared to Rs 5005.73 crore in the same period last year registering a year-on-year growth of 26.75 per cent.


Interest income of the bank rose by 16.39 per cent at Rs 28166.28 crore for the quarter ended September 30 2019 as against Rs 24199.56 crore in the corresponding period last year.


During the July-September quarter total income rose moderately by 19.63 per cent to Rs 33755.00 crore from Rs 28215.15 crore in the year ago period.


Meanwhile operating expenses increased by 17.73 per cent to Rs 22056.92 crore from Rs 18735.20 crore in the same period last year.


Operating profit surged 23.40 per cent to Rs 11698.08 crore from Rs. 9479.95 crore.


Provisions and Contingencies surged by 48.39 per cent at Rs 2700.68 crore from Rs 1819.96 crore a year ago.


NII the difference between interest earned on loans and interest paid on deposits increased by 14.89 per cent at Rs 13515.04 crore versus Rs 11763.41 crore in the year ago period. Non-interest income rose 39.18 per cent year-on-year to Rs 5588.72 crore.


On the asset side gross non- performing assets (NPAs) rose to 1.38 per cent of the gross advances as at the end of September 30 2019 from a level of 1.33 per cent year earlier. Its net NPAs or bad loans too increased to 0.42 per cent of net advances on September 30 2019 from 0.40 per cent a year ago.