HDFC Bank Q2 profit up 5% to ₹16,821 crore

HDFC Bank on Saturday posted a marginal 5 per cent increase in its standalone profit at ₹16,821 crore in the second quarter ended September 2024.

The country's biggest private sector lender had earned a net profit of ₹15,976 crore in the same quarter a year ago.

Also read: HDFC Bank may post muted PAT growth in Q2 Total income increased to ₹85,500 crore during the quarter under review against ₹78,406 crore in the same period last year, HDFC Bank said in a regulatory filing.

The bank reported interest income of ₹74,017 crore during the quarter compared to ₹67,698 crore in the same period a year ago.

Net Interest Income (NII) improved to ₹30,110 crore, from ₹27,390 crore in the second quarter of previous year, registering a 10 per cent growth.

As regards asset quality, the bank witnessed slight deterioration with gross Non-Performing Assets (NPAs) rising to 1.

36 per cent of the gross loans by the end of September 2024 from 1.

34 per cent a year ago.

Also read: HDFC Bank hikes MCLR by 5 basis points on 6 months, 3 year tenure Similarly, net NPAs or bad loans rose to 0.

41 per cent from 0.

35 per cent at the end of the second quarter of the previous fiscal.

On a consolidated basis, the bank logged a growth of 6 per cent in net profit to ₹17,826 crore as against ₹16,811 crore in Q2FY24.

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