HDFC Bank Q2 profit rises 18.4%, cautions slowdown could lead to higher defaults
Click here to read full article from source
MUMBAI, Oct. 17 -- Private sector lender HDFC Bank on Saturday reported a 18.4% year-on-year (y-o-y) rise in net profit to Rs.7,513 crore for the three months to September owing to a rise in total income and lower tax outgo.
Its profit was higher than Rs.6,409 crore estimated by a Bloomberg poll of 15 analysts.
The bank's net interest income - difference between interest earned and interested expended - grew 16.7% y-o-y to Rs.15,776.4 crore. Its net interest margin -- a key measure of profitability - stood at 4.1%. HDFC Bank's other income rose 9% y-o-y to Rs.6,092 crore.
HDFC Bank's asset quality improved in the September quarter with gross bad loan ratio or the percentage of bad loans to total advances declining 30 bps y-o-y to 1.08%...
To read the full article or to get the complete feed from this publication, please Contact Us