HDFC Bank Q1FY24 results: Net profit jumps 30% to Rs 11,952 crore

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HDFC Bank, the country’s largest lender, on Monday announced a 30 percent jump in its net profit for the quarter ended June 30 to Rs.11,952 crore.

The bank’s net revenue grew by 26.9% to Rs. 32,829 crore in the quarter as compared to Rs. 25,870 crore in the same quarter last year. Net interest income for the quarter jumped 21.1% to Rs.23,599 crore from Rs.19,481 crore last year.

The bank’s total non-performing assets increased slightly to 1.17 percent in the quarter compared to 1.12 percent in the quarter ended March 31. On June 30, the bank’s total non-performing assets were 1.28 percent.

NPAs net 0.30 percent as of June 30.

As of June 30, total bank advances increased by 15.8 percent to 16.5 trillion rupees.

On Monday, the bank also surpassed the $100 billion market cap and became the seventh largest bank in the world.

First published: July 17, 2023 | 1:15 p.m ist