HDFC Bank Q4 net profit grows to ₹17,622 crore

HDFC Bank on Saturday reported a 2.11 per cent growth in consolidated net profit to ₹17,622.38 crore for the March 2024 quarter against ₹17,257.87 crore in the preceding December quarter.

• Also read:Results preview: HDFC Bank’s Q4 seen healthy on merger impact, treasury gains, Credila stake sale

On a standalone basis, the country’s largest private sector lender reported a net profit of ₹16,511.85 crore compared to ₹16,372.54 crore in the December quarter.

In July 2023, the bank merged its home loan-focused parent HDFC into itself.

Its core net interest income grew to ₹29,080 crore for the reporting quarter, while the other income grew to ₹18,170 crore.

The lender has reported its core net interest margin of 3.44 per cent on total assets.

The gross non-performing assets ratio came at 1.24 per cent.