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HDFC Bank Reports A Near 23% Jump In Net Profits In The March Quarter



HDFC Bank reported a near 23% jump in net profit in the January-March quarter

HDFC Bank reported a near 23 per cent jump in its standalone net profit in the January-March quarter from a year ago.

On Saturday, the bank said in a stock exchange filing that its standalone net profit rose to Rs 10,055.2 crore for the January-March quarter from 8,186.50 crore during the same period a year ago.

“After providing Rs 2,989.5 crore for taxation, the bank earned a net profit of Rs 10,055.20 crore, an increase of 22.8 per cent over the quarter ended March 31, 2021,” noted HDFC Bank in the exchange report.

The standalone net income jumped by over 6 per cent to Rs 41,085.78 crore in the final quarter of the 2021-22 fiscal year from Rs 38,017.50 crore in the year-ago period, the report showed.

HDFC said as on March 31, 2022, the overall non-performing assets (NPAs) were down at 1.17 per cent, compared to 1.26 per cent earlier.

Net NPAs (or bad loans) stood at 0.32 per cent of the net advances, compared to 0.40 per cent, the report showed. 

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