SOURCE : NEW18 NEWS
Last Updated:January 22, 2025, 16:57 IST
HDFC Bank reports a 2.2 per cent jump in its net profit to Rs 16,736 crore for the third quarter ended December 2024 (Q3 FY24).
HDFC Bank has declared its Q3 results.
HDFC Bank, India’s largest private sector lender, on Wednesday reported a 2.2 per cent jump in its standalone net profit to Rs 16,736 crore for the third quarter ended December 2024 (Q3 FY24). The results beat the market estimates.
Its net interest income, the difference between the interest expended and interest earned, increased 8 per cent YoY to Rs 30,690 crore, according to a regulatory filing.
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The total income on a standalone basis rose to Rs 87,460 crore in the third quarter of FY25 against Rs 81,720 crore in the year-ago period, HDFC Bank said in a regulatory filing.
On a consolidated basis, the bank’s profit also witnessed a slight improvement to Rs 17,657 crore from Rs 17,258 crore.
The consolidated total income declined to Rs 1,12,194 crore from Rs 1,15,016 crore at the end of the October-November quarter of the previous year.
The bank’s gross non-performing assets (NPA) stood at Rs 36,019 crore at the end of the December 2024 quarter, which is higher as compared with Rs 31,012 crore. Its gross NPA ratio rose 18 bps to 1.42 per cent at the end of Q3, from 1.26 per cent year-on-year.
Net NPAs or bad loans rose to 0.46 per cent compared to 0.31 per cent in 2023.
Deposits stood at Rs 25.6 lakh crore as of December 31, 2024, registering a 15.8 per cent YoY growth, while gross advances rose 3 per cent to Rs 25.4 lakh crore during the same period.
Following the results, shares of HDFC Bank on Wednesday jumped ending the day with a gain of 1.42 per cent to Rs 1,665.05 apiece on the BSE.
