HDFC Bank’s net profit increases by 18 per cent. to Rs 10,342 cr in Q3

the country’s largest lender in the private sector HDFC Bank reported on Saturday an increase of 18.1 percent in its independent net profit to Rs 10,342.20 for the third quarter ending December 2021.

The country’s largest private lender HDFC Bank reported on Saturday an increase of 18.1 percent in its independent net profit to Rs 10,342.20 for the third quarter ending December 2021. The bank had recorded a net profit of Rs 8,758.29 in the corresponding quarter of previous financial year.

The total income on an independent basis increased to Rs 40,651.60 crore in the October-December quarter of FY2021-22, against Rs 37,522.92 crore in the same period in the previous financial year, HDFC Bank said in a regulatory application.

However, there was an increase in the bank’s share of bad loans, with gross non-performing assets (NPAs) rising to 1.26 per cent of gross lending per annum. December 30, 2021, against 0.81 percent in the same period the year before. However, it had fallen sequentially from 1.35 percent by the end of September 2021.

Net NPAs or bad loans also rose to 0.37 percent year-on-year from 0.09 percent, but a decrease from the September 2021 quarter 0.40 percent sequentially.

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