HDFC Bank's Q2FY21 net profit rises over 18%
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Mumbai, Oct. 18 -- Lending major HDFC Bank on Saturday reported a 18.4 per cent increase in standalone net profit for the quarter ended September 30 of FY21 on year-on-year (YoY) basis.
The bank's net profit for the second quarter of FY21 rose to Rs 7,513.1 crore on a YoY basis.
"While the previous quarter largely bore the brunt of the Covid-19 pandemic, some of the softness continued into the current quarter, leading to lower retail loan origination, use of debit and credit cards by customers, efficiency in collection efforts and waivers of certain fees," the bank said in a statement.
"As a result, fees or other incomes were lower by approximately Rs 800 crore. However, the loan and card momentum has improved over the previous quarter...
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