HDFC Bank March Quarter Net Profit Up 20% To Rs 12,594 Crore

Mumbai:

HDFC Bank today reported a 20.60 per cent growth in its consolidated net profit to Rs 12,594.47 crore for the March 2023 quarter.

The country’s largest private sector lender had reported a net profit of Rs 10,443.01 crore for the January-March period a year ago and Rs 12,698.32 crore in the preceding December quarter. For FY23, the bank reported a net profit of Rs 45,997.11 crore against Rs 38,052.75 crore in FY22.

On a standalone basis, the bank reported a 19.81 per cent rise in its net profit to Rs 12,047.45 crore. Its overall income on a standalone basis grew to Rs 53,850 crore compared to Rs 41,086 crore in the year-ago period. The overall provisions for loan losses and other aspects stood at Rs 2,685.37 crore for the reporting quarter against Rs 3,312.35 crore a year ago.

The gross non-performing assets ratio improved to 1.12 per cent at the end of March from 1.17 per cent a year ago and 1.23 per cent in December 2022.

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