HDFC Bank records 33% jump in net profit for Oct-Dec quarter

Mumbai: HDFC Bank on Tuesday reported a 33.5 percent increase in net profit at Rs 16,372 crore for the October-December quarter of the current financial year, against a net profit of Rs 12,259 crore in the same quarter last year.

The bank’s net interest income (NII), the difference between interest earned and interest expended, rose 24 per cent year-on-year to Rs 28,471.34 crore.

Provisions in the December quarter increased to Rs 4,217 crore from Rs 2,806 crore a year ago, and Rs 2,904 crore in the preceding quarter.

Gross non-performing assets (GNPA) ratio, as of December end, was 1.26 per cent, compared to 1.23 per cent a year ago, and 1.34 per cent a quarter ago. Net non-performing assets (NNPA) ratio was 0.31 per cent as of December end, compared to 0.33 per cent a year ago, and 0.35 per cent a quarter ago.