HDFC Bank net up 18% at Rs 3,990 crore in Jan-Mar
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HDFC Bank posted an 18.3% rise in net profit in the January-March quarter at Rs 3,990 crore on Friday, beating street estimates.
At Rs 3,990 crore, the bank’s net profit grew 18.3% on higher interest income and income from fees. In the same period last year, HDFC Bank had posted a net profit of Rs 3,374.22 crore.Gross bad loans as a percentage of total loans, at 1.05%, were little changed from the previous quarter (October - December).
The provisions and contingencies of the bank were up 90.48% year-on-year at Rs 1,261.80 crore against RS 662.45 crore in the same period.
On the BSE, the bank’s shares were trading at Rs 1477.75, up Rs 15.80 or 1.08% from its previous close.
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