HDFC Bank shares rally nearly 4% post Q1 earnings
Hours after the stock jumped 4.86 per cent to Rs 1,152.65 on the BSE, it was trading at Rs 1,138.80, up by 3.61 per cent.
HDFC Bank reported a 14.36 per cent growth in its consolidated net profit at Rs 7,922.09 crore.
The largest private sector lender bank had posted a consolidated net profit of Rs 6,927.24 crore in the corresponding quarter a year ago.
Profit of the June quarter has declined compared with the preceding March quarter’s Rs 8,433.78 crore, as per the bank’s regulatory filings.
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While standalone, net profit stood at Rs 7,729.64 crore in the June 2021 quarter, as against Rs 6,658.62 crore in the year-ago period and the preceding March quarter’s Rs 8,186.51 crore.
The bank’s total income increased to Rs 36,771 crore in April-June 2021, compared to Rs 34,453 crore in the year-ago period.
It reported an increase in the gross non-performing assets ratio to 1.47 per cent as of June 30, 2021 as against 1.36 per cent in the year-ago period and 1.32 per cent three months ago.
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