HDFC Bank Q1 Results: Net Profit Jumps 33% to Rs 16,474 Crore, NPA Rises to 1.33%
HDFC Bank Q1 Results: HDFC Bank on Saturday reported a 33.17 per cent jump in its consolidated net profit to Rs 16,474.85 crore for the June 2024 quarter. Its total income during April-June increased to Rs 83,701 crore from Rs 57,816 crore a year ago.
The bank had posted a post-tax net profit of Rs 12,370 crore on a consolidated basis in the year-ago period, it said in a regulatory filing.
On a standalone level, HDFC Bank’s net profit rose to Rs 16,174 crore during the June 2024 quarter, against Rs 11,951 crore a year ago. However, it was lower from the preceding March quarter’s 16,511 crore.
Its provisioning was reduced to Rs 2,602 crore from Rs 2,860 crore a year earlier.
The bank’s gross non-performing assets ratio inched up to 1.33 per cent as of June 30, 2024, compared with 1.24 per cent on March 31, 2024. Its overall capital adequacy was 19.33 per cent as of June 30, 2024.
Shares of HDFC Bank on Friday fell Rs 7.40 or 0.46 per cent to close at Rs 1,607.1 apiece on the BSE.
