HDFC Bank Q3 results: Net profit rises 18% to Rs 10,342 cr

Private lender on Saturday reported an 18% jump in standalone net profit at Rs 10,342 crore for the quarter ending December 31, 2021. The bank reported net profit of Rs 8,758 crore in the year-ago period.

The bank's net revenues, the sum of NII and other income, increased by 12% to Rs 26,627 crore as against Rs 23,760.8 crore in Q3FY21.

Net interest income, the difference between interest earned and interest expended, grew by 13% to Rs 18,443.5 crore as compared to Rs 16,317.6 crore in December 2020.

On Friday, HDFC Bank's scrip on BSE closed 1% higher at Rs 1,545.

The bank's provisions fell 12% to Rs 2,994 crore as compared to Rs 3,414 crore in December 2020.

HDFC Bank's gross NPAs were at 1.26% of gross advances as on December 31, 2021, as against 1.35% as on September 30, 2021. Net NPAs were at 0.37% of gross advances as compared to 0.4% in September quarter.

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