HDFC Bank Q1FY24 results: Net profit jumps 30% to Rs 11,952 crore

The country’s biggest lender HDFC Bank on Monday reported a 30 per cent jump in its net profit for the quarter that ended on June 30 to Rs 11,952 crore.

The bank’s net revenue grew 26.9 per cent to Rs 32,829 crore in the quarter as compared to Rs 25,870 crore in the same quarter last year. The net interest income during the quarter jumped 21.1 per cent to Rs 23,599 crore from Rs 19,481 crore last year.

The bank’s gross non-performing assets (GNPAs) rose slightly to 1.17 per cent in the quarter as compared to 1.12 per cent in the quarter that ended on March 31. On June 30, the GNPAs were 1.28 per cent.

The net NPAs were 0.30 per cent as of June 30.

As of June 30, the bank’s total advances were up 15.8 per cent to Rs 16.5 trillion.

On Monday, the bank also crossed $100 billion in market cap and became the world's seventh largest bank.

HDFC Bank