Apple posts record growth in India in June quarter, says Tim Cook
"The vast majority of markets we tracked grew double digits, with especially strong growth in emerging markets, including India," he added.
The share price on HDFC Bank rallied nearly 4 per cent on Monday after the private sector lender reported a profit in its June quarter earnings, with improved asset quality.
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.
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Similarly, lender’s shares had climbed 4.95 per cent to Rs 1,152.90 on the NSE, but at 1.48 pm it was trading 3.62 per cent higher at Rs 1,138.25.
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HDFC Bank on Saturday had reported nearly 20 per cent rise in standalone net profit at Rs 6,658.62 crore for the June 2020 quarter. Its income increased to Rs 34,453.28 crore for the reported quarter from Rs 32,361.84 crore a year ago.
The lender’s net interest income for the quarter grew 17.8 per cent to Rs 15,665.4 crore from Rs 13,294.3 crore in the same period a year earlier, driven by growth in advances of 20.9 per cent and a rise in deposits of 24.6 per cent, the bank had said.
Also on the asset quality front, there was an improvement as gross non-performing assets (NPAs) fell to 1.36 per cent of the gross advances as on June 30, 2020 from 1.40 per cent by the end of June 2019.
In value terms, gross NPAs or bad loans were at Rs 13,773.46 crore as against Rs 11,768.95 crore.
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